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This week’s B2B Data Digest uncovers the global cash flow threat of extended supplier payment terms, with the matter reaching from the U.S. Small businesses’ late payment pains know no borders. to Australia and beyond. Closes In On Construction.
The Association of AccountingTechnicians (AAT) is in the midst of a campaign to fight the problem, with three changes. Late payments can also be counterproductive in terms of productivity, and can also have other effects, like minimizing well-being and causing stress to business owners.
At the end of Q2 2016, small businesses are still waiting a long time to get paid, though there have been some improvements in B2B payment speeds. SMEs worry about unpaid invoices , a figure released by small business accounting firm Xero last week suggests. 52% of U.K. days every month chasing down late payments.
The proposals come from the Association of AccountingTechnicians (AAT), and the trio of measures would, as reported by Building , change the nation’s Prompt Payment Code. To that end, U.K. politicians from both sides of the aisle have backed a series of proposals that seek to curtail late payments across supply chains in the country.
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