![]() So what exactly can business owners do about overdue payments? Learning how to write an effective late payment invoice email is a good place to stat. How can businesses use simple emails to tackle late payments? 25% of British small businesses feel uncomfortable talking to their customers and suppliers about money. ![]() Our research into ' money mutedness' also indicates the very British trait of leaving things unsaid is one the factors contributing to businesses being under- or unpaid. Put simply, overdue payments represent a severe existential threat for many small businesses. Barclays’ study highlighted some of the many negative effects of overdue payments. According to their research, 58% of SMEs are owed money on overdue invoices. Put simply, late payments represent a severe existential threat for many small businesses.Ī more recent study from Barclays indicates that this is very much still an issue. ![]() GoCardless found that, on average, UK SMEs are paid around 18 days late, and 1 in 6 invoices remain unpaid after 90 days (three months after work has been completed). In the UK, overdue payments are an enormous issue for SMEs. Are you dealing with late invoice payments? You’re not the only one.
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