“The past few years have been difficult for business owners across the country. Faced with a mix of Brexit, Covid restrictions and lockdowns, staff and supply issues and now the cost of living crisis, it’s astonishing to see that one in four small businesses state they are constantly chasing late payments,” says Sandra Rowley at takepayments Limited.

25% of small businesses are constantly chasing late payments

Card payment specialists, takepayments Limited, surveyed SME business owners and decision-makers across the UK to discover the current small business landscape for the year ahead. According to their annual 2022 business challenges report, cash flow and late payments were named the biggest financial concerns for 22% of small business owners in the UK this year.

Late payments ultimately lead to a worrying impact on small businesses' cash flow according to one in four (25%) SMEs surveyed, so it’s no surprise it’s a top concern for small business owners that are already faced with financial challenges of the ongoing cost of living crisis.

Read the full article here

So, how can Breal CM help?

Large or small, we can handle debts of any size. Our technology partners allow us to do the same job no matter what the size or challenges of your debt.

Adjusting to new dynamics in the world of credit management is integral to customer performance. The role of the finance department in this new landscape is about more than just chasing late payments. It’s about making informed decisions based on real-time data.

If you’re having difficulties communicating with debtors, don’t panic! At Breal CM we see ourselves as the marriage counsellors of debt recovery. Our unique position, expertise and technology partners allow us to step in the middle and understand both sides.

To find out how our 20 years of expert knowledge in debt recovery and credit control can help your business gain better control over cash flow and delinquent debtors, call 0330 0430282 or simply email us at info@BREALCM.com.

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