UK SMEs face over £67bn in unpaid invoices

Posted by Customer Service Agent 3 on
You may be aware that recent industry studies have revealed that small and medium sized enterprises (SMEs) across the UK currently face over £67bn in unpaid invoices. This total marks a 36 per cent increase since 2011. That's an average of almost £40,000 per firm. If this figure reaches £50,000, one in four SMEs say they may have to shut up shop altogether.

Unpaid invoices now amount to 14 per cent of annual turnover across SMEs as a whole. Some of the hardest hit sectors include businesses within manufacturing (owed £13.4bn - 17 per cent of turnover) and the construction sector (owed £7bn - 16 per cent of turnover).

UK SMEs are also waiting an average of 72 days for payment of invoices (construction industry stands at 107 days!), a figure that continues to climb year on year.

COLLECTaDEBTpro’s set price, on-line debt collection solution solves this worrying problem by ensuring its clients overdue invoices become a priority and therefore paid before everyone else’s – compliantly and securely.

If you would like more information on how COLLECTaDEBTpro can help you regain control of your cash flow – please Contact Us.