Slow payers are causing headaches
The survey supports the view that the credit crunch has exacerbated existing difficulties, according to Martin Williams, MD of credit risk specialist Graydon.
‘Delaying payment is the cheapest way of financing a business, by using your trade suppliers’ money,’ he argues. ‘The problem is that smaller businesses don’t have the financial muscle or the expertise to ensure they get paid on time.’
‘Although the legislation exists to do that in this country, companies won’t use it because they are scared of losing their clients.’
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