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Chartered AccountantsRed tape and unfair terms leave SMEs struggling
Onerous red tape and unfair payment terms imposed on small firms by big business mean SMEs continue to struggle from late payments. A survey by the Institute of Directors found 52% of its members have faced issues of delays in the past year, with 31% blaming “excessively bureaucratic payments systems” and 23% claiming bigger firms were imposing “grossly unfair” terms on their payments. The IoD’s Edwin Morgan said the Government needed to do more to publicise the options small businesses have to tackle late payment, describing the current situation as “deeply disturbing.”
Source: The Daily Telegraph (01/04/2018)
