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Our unique dedicated credit management services"Late payment of invoices is a complex issue but in simple terms an invoice that is not paid on time can spell the end for a small business" - a strong message spelled out by John Walker, National Policy Chairman, Federation of Small Businesses.
But what, in practice, can a small to medium company do, particularly when dealing with large on-going customers?
In fact, there is a solution from QueryManagement, the credit control specialists. Query Management is dedicated to providing a whole range of professional business support focused singlemindedly on credit management.
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STATISTICS RELEASED:
INSOLVENCIES IN THE FIRST QUARTER 2009- up Q109 = 4941 Q408 = 4607 Q407 = 3039
Statistics showing insolvencies in the first quarter 2009 have been published by the Insolvency Service.
COMPANY INSOLVENCIES There were 4941 compulsory liquidations and creditors' voluntary liquidations in total in England and Wales in the first quarter 2009 (on a seasonally adjusted basis) This was an increase of 7% on the previous quarter and an increase of 56% on the same period a year ago. The Insolvency Service 1st May 2009 - Ref INS/Com/31
In 12 months ending Q109 approximately 1 in 130 (0.8%) companies went into liquidation compared to the previous quarter of 1 in 150 (0.7%).
Late Payment Legislation
The UK was one of the first countries in the EU to introduce legislation to promote a culture of prompt payment. That was in 1998.Since then, in August 2002, provisions have been extended. more.... EXCUSES OF THE MONTH
I can't be bothered to sign the cheque!!
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