Infographic: 5 Ways Unpaid Debts Harm British Businesses
In business, getting paid on time is important.
Not just for your own finances, but also because having a healthy cashflow is vital to ensuring that everyone on your team, and everyone you work with, gets paid on time too. This helps to guarantee that the individuals at every step of the process have the available funds to keep operating.
When one business gets paid late, it often means many more will be paid late too, and the knock-on effects can be severe. For example, in the UK alone fifty thousand small business close every year as a result of late paying clients.
This, and several other alarming statistics, have been formatted into our infographic about 5 of the ways that unpaid debts harm British businesses. Some of the figures involved are startling, and help to illustrate the significant consequences which can develop when small businesses aren’t paid on time.
It is for these reasons then, and many more, why it is vital to ensure that you receive your payments on time as often as possible, while paying your suppliers as promptly as you can.
Given how important this topic is, we created this infographic to raise awareness of the issue. If you’ve found this infographic interesting, valuable, or thought-provoking, please help it find as large an audience as possible by sharing it on social media!
About MP Consulting Receivables
MP Consulting Receivables specialise in providing debt recovery solutions. We can also function as a debt collection agency, and offer additional services such as ledger management, and credit control.
This infographic was created by New Frontiers Marketing.