Late payment issues worsen for 27% of SMEs | Government steps in
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Late payment problems have worsened for 27% of UK SMEs[i] according to research conducted by Purbeck Insurance Services, the UK’s only insurance provider to offer Personal Guarantee insurance. 29% are experiencing worsening cashflow problems and 30% of UK SMEs are finding access to finance has become harder in the past twelve months. The findings have been revealed as the UK Government confirms it is proposing new measures to stamp down on late payments to small business.[ii]