Cashflow continues to be a significant concern for a large number of UK CFOs, with slow payment by customers now one of the key challenges they face, according to research by recruitment specialists Robert Half say Northampton accountants Harris & Co.
Its survey of finance directors across the UK found that 41% identified cashflow as one of their biggest internal concerns, rising to 46% for small and private companies. CFOs based in the North and Scotland (48%) were significantly more worried that their counterparts in London and the south east (37%).
Slow paying customers topped the list of critical factors for concern, cited by 61% of CFOs, up from 26% in 2011. Late payments were a particular concern for CFOs in the North and Scotland, mentioned by 71%. Other issues were customer/client insolvencies (45%), competitive pricing/low margins (41%), higher business expenditures (40%), lower revenue (38%) and higher taxes (26%).
Phil Sheridan, managing director, Robert Half UK said: "Cashflow clearly remains a priority for finance leaders, particularly small and private companies who rely heavily on liquid capital to keep business running as usual."