A recent survey undertaken by BACS showed that 60% of Small to Medium Enterprises are experiencing late payment issues. It also showed that the average SME is owed £38,186 and 1 in 4 said if that amount grew to £50,000, they would face bankruptcy. Less than £12,000 is a narrow margin, and a worrying one in a financial climate in which SMEs can’t afford to turn work away and may have to negotiate terms for payment which are not ideal.
Another surprising statistic to come out of the survey was that 1 in 4 companies said they were spending an average of 10 hours or more each week chasing late payments. That’s time that they can ill afford.
We can take the strain. Consult us and we will send an initial demand letter absolutely free. There really is no catch. If our clients get paid after a letter is sent then that’s a result, and a free one at that! If payment isn’t made, we can discuss all the options and talk it through with you before deciding on a way forward.
We have vast experience in pursuing debts through the various methods. We can work with you from the initial letter right through County Court proceedings to enforcing Judgments.
We’re so good we handle our own credit control. No better recommendation than that!