Key late payments statistics

  • 51 percent say late payments are more of a problem than they were three years ago
  • 58 percent say late payments are putting the business at risk of failure
  • 51 percent of SME owners use personal savings to cover the shortfall from late payments
  • 36 percent of SMEs don’t credit check any customers

 

 

 

 

 

 

Manufacturing was found to be the sector most exposed to late payments, with SMEs there owed an average of £83,000. This was closely followed by smaller businesses in the retail space, where an average of £76,000 is outstanding.