Poor payment is one of the biggest issues that small businesses face. FSB research found that 84% of smaller businesses are paid late, which causes a loss of £2.5 bn GDP and forces around 50,000 businesses to close each year across the UK.
As we emerge from the Covid-19 lockdown and enters recovery mode, it has never been more important for your business to get paid in full and on time. Following on from the success of FSB’s recent award-winning campaign ‘Fair Pay, Fair Play’, the Government has been proactive in attempting to stamp out the worst kind of poor payment practices but more must be done. Now, as we continue our campaigning work, we are now also delivering new debt recovery tools and holding a dedicated online masterclass to help you implement practical measures to end the scourge of late payment.
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