SME Late-Payment Problems Compounded By Brexit Uncertainty


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Call it "alternative facts" or "media bias" if you will, but we can't help but notice the large and increasing volume of stories that relate the unhelpful lack of clarity around the Brexit process. AltFi is the latest among many; it carries a report on concerns about late payment and Brexit uncertainty among SMEs.

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"More than one in ten (11 per cent) of SMEs say they have experienced a worsening in payment terms in the last 12 months, and 8 per cent are coming under further pressures as customers increase payment terms owing to concerns since Brexit.

"[A research firm] said in a release: 'This dire situation leaves SMEs dangerously exposed with many expecting a further squeeze as a result of Brexit uncertainty.

"'This crisis hurts staff too with nearly one in ten of those surveyed (9 per cent) admitted that late payments have meant that they have been challenged to meet their own payroll obligations.'"

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Disclaimer: Money&Co.™ is the trading name of Denmark Square Limited, Company Number 08561817, registered in England & Wales, authorised and regulated by the Financial Conduct Authority (FCA). The company is identified on the Financial Services Register under Reference Number 727325. The registered office is 58 Glentham Road, Barnes, London, SW13 9JJ where the register of Directors may be inspected. Denmark Square Limited (ISA manager reference number Z1932) manages the Money&Co. Innovative Finance ISA.