B2B payments UK rolls out late payments complaint service

Friday 22 December 2017 10:04 CET | News

The UK has launched a website through which SMBs can file complaints about late-paying customers.

In addition to facilitating the filing of complaints, the website also provides guidance to SMBs that face challenges in getting paid. The commissioner advises small businesses to “check, chase and choose” — check that the right information was given, chase late payments and choose how to take action if delayed payments continue.

The UK has taken several steps to combat the issue of late payments, which, according to reports, has led to cash flow problems for 20% of the UK’s small businesses.

According to small business minister Margot James, the value of outstanding invoices owed to small businesses has more than halved in the last five years.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: B2B payments, SMBs, late payments, einvoincing, UK
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech