SME's want faster payments

Small firms seek speedier payment Analysis from accounting software group Intuit Quickbooks suggests SMEs are increasingly demanding that their customers pay them faster to help ease their cash flow issues, with a growing number demanding immediate payment. The proportion of SMEs willing to accept payments within 15 days fell from 32.7% in January to 30.7% in May, while those willing to be paid within 16 to 30 days has fallen from 7% to 5.1%. The proportion who want immediate payment have risen from 60.3% to 64.2%. The report shows that SMEs are owed £21,373 in late payments on average.