Time Finance: SMEs owed an average of £250k in late payments

New data from Time Finance has revealed the worsening challenge of late payment debt as it finds SMEs are owed on average quarter of a million pounds in outstanding invoices.

In a recent survey, the alternative finance provider to UK SMEs, uncovered that one in three businesses are forced to wait between 60 and 120 days for invoices to be paid by their customers. It is a problem that continues to significantly hold businesses back from realising their investment plans, claims Time Finance.

The new survey has been commissioned by Time Finance’s Invoice Finance team, which works on behalf of hundreds of businesses to recoup revenue from outstanding invoices, giving businesses access to working capital to support overheads and growth strategies.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

Dan Murphy joins Time Finance as Business Development Manager

Time Finance has welcomed Dan Murphy as business development manager in its invoice finance team. Murphy (pictured) joins with over five years’ experience in the financial services industry having held positions at Barclays, Praetura invoice finance

Time Finance plc

Time Finance welcomes Dan Murphy as BDM

Time Finance has appointed Dan Murphy as business development manager (BDM) in its invoice finance team. Murphy joins with over five years’ experience in the financial services industry, having held positions at Barclays, Praetura Invoice Finance and

Time Finance plc

The true cost of stress in small businesses

Late nights in the office or working overtime at the weekend isn’t unfamiliar territory for many business owners. In the early years of trading many SME entrepreneurs find their work-life balance a little skewed as they

Time Finance plc

Cash flow forecasting best practices for 2024:

No matter what sector you work in, cash flow shortages can cause plenty of stress.  Whether that’s issues paying suppliers, looming overheads, or trying to retain savings, cash flow management can help. The outlook for the current