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With late payment problems a constant burden for small business owners, we look at the most common delaying tactics used by customers, and how you can overcome these late payment excuses.
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Freelancers and small businesses are getting an even rougher deal than usual, as figures from Experian show they are currently the only individuals and companies in the UK to be making strides on prompt payment.
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Small businesses with outstanding tax liabilities are being warned that HMRC has doubled the use of its ‘power of distraint’, which allows its staff to make unannounced visits to firms’ premises in order to recover unpaid taxes.
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With the first two months of the year typically the worst for late payment, a leading debt recovery law firm has provided some advice to small businesses on how to deal with late paying customers by being tough from the moment an invoice becomes overdue.
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With the festive period being the most important time of year for many small businesses – particularly those in the retail sector, there are some fundamental measures firms can take to ensure that they maintain a healthy cash flow.
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If you’ve got a business headache right now, there’s a pretty good chance it’s to do with clients owing you money.

It’s almost as if the economic downturn has become a prime opportunity for anyone who fancies improving their own cash flow to help themselves to better credit terms from their suppliers… but without asking permission.

That has a knock on effect right down the line. And it’s no wonder that small, cash poor companies at the bottom of the chain are the ones that suffer the most.
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New research suggests that a large number of small businesses could be in danger of going under – as nearly one million SMEs now suffer late payment problems.
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The Forum of Private Business has conducted a nationwide study into the length of time local authorities take to settle invoices. Overall, the average payment time has barely improved over the past years – and the figures vary greatly across the UK.
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The single biggest cause of small business failure in the UK is poor cash flow management, most often brought on by late payment issues.
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You see County Court Judgments, or CCJs, mentioned on debt-related adverts all the time, but what are they, and how do you enforce one?
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A law firm says that many larger businesses are now paying their suppliers late as a ‘badge of honour’, and that legislation designed to protect small businesses is ineffective in halting a culture of late payment.
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A recent survey shows, once again, that late paying customers remain the biggest single threat to the health of the UK’s small businesses. Here, we provide some tips on how to avoid late payment problems.
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A North West accountancy firm has warned small business owners that they should tighten their credit control management, as it has emerged that HMRC is increasingly resorting to asset seizures to tackle late paying businesses.
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When you are starting a new business you have a million and one things to think about. As a new business owner, many of the issues you will need to tackle, will be completely unfamiliar to you.

With so much to do, you will need to learn quickly. If the financial side of the business isn’t your strong point, here are 10 tips from ByteStart to help you stay on top of your business finance.
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Small and medium-sized businesses are now owed a record £33.6 billion in late payments according to the latest late payment survey by Bacs.
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Data released by global information company, Experian, reveals some interesting regional late payment trends, with businesses in the North West of the country taking twice as long to settle outstanding invoices as those in the South West.
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If you’ve always been employed by someone else, managing your own business finances will be an interesting new experience for you!
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Being a freelancer has many advantages (especially compared to being a wage slave employee), but one big disadvantage.

And that’s the fact that you are your business: you have to do everything in it. Which includes chasing payments owed to you by clients.
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There has been much talk recently about freelancers and contractors struggling to get their invoices paid by the agencies or end clients.

With the credit crunch hitting cash flows hard, the bigger companies are often guilty of extending credit terms without your say so. If firstly the client delays in paying the agency and then they delay in paying you, it’s added weeks on to money that would be better off in your bank.
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As late payment problems consider to plague small businesses, we have teamed up with a leading debt recovery service to ensure ByteStart visitors can receive help getting their invoices paid.
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