Recent industry studies continue to highlight that small and medium-sized enterprises (SMEs) across the UK continue to face lengthy delays for invoice payments as challenges continue to rise.

The impact of late payments has been felt across the country, with SMEs reporting over a third (36%) of payments taken in an average month, as being late. These late payments are causing UK SMEs billions of losses at any one time.

Nearly half (46%) of small businesses claim the time associated with chasing invoices as having the most noticeable impact, with 31% of businesses spending significant time chasing customers. This time could be put into improving customer service, developing new products and evolving business growth strategy; however, it is often spent chasing money that a business has already earned.

Did you know: Research suggests that 56.4 million hours of SMEs time is taken up chasing overdue and late payments annually.

Cash flow issues are the other major impact felt as a result of late payments, with 44% of businesses stating it as the most pressing issue. SMEs are particularly vulnerable to the knock-on effects of volatile cash flow. It can massively impact business planning and threaten the ability to pay suppliers, staff and any clients that may be lost as a result

Tips for chasing unpaid invoices

COLLECTaDEBTpro offers debt recovery with a difference, a service with one low price, whatever the size of your outstanding bill. Make your overdue invoices become a priority and therefore paid before everyone else’s.

If you would like more information on how COLLECTaDEBTpro can help you regain control of your cash flow – please email us at This email address is being protected from spambots. You need JavaScript enabled to view it.