The impact of late payments on UK & Irish SMEs

Close Brothers Follow us g+y in Invoice Finance The late payment conundrum A game of risk Close Brothers Invoice Finance iGraphic November 2014 Late payments are a constant thorn in the side of small and medium-sized businesses. According to BACS, 2,500 companies become insolvent each year due to not receiving payment for their invoices on time. SME owners across the UK and Ireland were surveyed as part of our Close Brothers Business Barometer" to find out the impact late payments have on their businesses. Are YOU challenged by the late payment conundrum? RAISE INVOICE and GO! PAYMENTS AHEAD: DELAYS EXPECTED 840% O 58% STOP say late payments are a problem for their business say late payment makes cash flow difficult to manage Miss a turn and wait here Invoice finance bonus card Invoice finonce bonus card FAST TRACK TO INSTANT PAYMENT! E TO! so CALL CUSTOMER YOUR BUSINESS FOR DEBT RECOVERY IS LOW ON FUEL The late payment conundrum A game of risk It's a dead end! Go back to the start Miss a turn whilst you wait for funds Invoice finance bonus card Invoice finance bonus cad YOU'VE JUST SAVED TIME AND MONEY! 6 MONTHS FREE BAD DEBT PROTECTION! DEBTOR PAYMENT DISRUPTION 44% O 51% are owed more than £20,000 in late payments spend over 10 hours per month chasing unpaid bills Miss a turn to chase for payment *The Close Brothers Business Barometer is conducted on a quarterly basis. It canvasses the opinion of SME owners and senior management throughout the UK and Ireland on a range of issues affecting their business. Close Brothers Invoice Finance www.closeinvoice.co.uk Data source: Close Brothers Business Barometer June 2014 Close Brothers Ivoice Finance is a trading style of Close Invoice Finance Limited ('CIFL'), a subsidiary of Close Brothers Limited, CIFL is registered in England and Wales with company number 935949 and registered office at 10 Crown Place, London ECZA 4FT.