Turnover of £500,000 or less be worried

If your business has a turnover of £500,000 or less current research shows that late payment culture is continuing and that the most affected are the SME market who are cash tight and cannot take the hit of late payments.

One of the best ways to avoid this is having a rigorous credit control process in place. Be active – do not allow your customers to have credit without prior agreement.

Know when to draw the line and treat a late payment like a debt.