Firms wait for payment

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Firms waiting twice as long for payment A survey by Market Finance has found that SMEs had to wait an average of 23 days to receive their money in 2019, up from 12 days in 2018. However, there was a slight improvement in the number of invoices paid on time, with 39% of invoices paid late in 2019, up from 43% in 2018. Bilal Mahmood, external relations director at Market Finance, said: "It's great to see that fewer invoices were paid late in 2019 but worryingly, those that were paid late took twice as long." He added: "Late payment practices harm business cash flow, hampers investment and, in extreme cases, can risk business solvency."

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