Small businesses forced to wait for
payment!
Did you know that many small businesses now have to wait even
longer for payment? Research by the Credit Management Research
Centre suggests that the time being taken to settle invoices has
now doubled to 30 days past the due date.
Late payment legislation has done little to soften the impact of
reduced cashflow on small businesses. Over 70% of businesses,
particularly those turning over less than £10M a year, experience
late payment. And of course the longer a customer takes to pay, the
more chance there is that they will not pay at all.
Cashflow is the lifeblood of business. Without it a business simply
dies. Bad debt and its repercussions on cashflow and solvency cause
as many as one in ten of all UK company failures.
Chasing late payments is a fact of business life. Whatever the
reason, it is time consuming, costly and takes up valuable
resources that would be better directed towards growing your
business!
Insurance Service members…
This is why Towergate has arranged the FSB Insurance Service Credit
Management Service, via STA Graydon.
STA Graydon is one of the UK’s leading commercial debt
collection agencies, offering a wide range of collection services
on a no-collect no-fee basis, and have proven their success with 60
years of collecting accounts in the UK and 100 countries overseas.
Let’s face it, late payments are an unavoidable fact of business
life. In an ideal world, you’d never have to deal with them. In the
real world, you almost certainly will. With STA
Graydon, you can at least take the pain out of chasing
payments.
Terms & Conditions Service
A Terms and Conditions service to help ensure that your business
terms and conditions are effective and stand as the first line of
defence in any payment dispute.
Tracing Service
To keep track of debtors who have moved location.
UK Enquiry Visit & Report
A detailed investigation and report to establish the location,
status and means of your customer.
UK & International Legal Action
If legal action is required, we can offer you our own panel of
agents and lawyers who specialise in commercial litigation and in
our opinion have cost effective legal charges when acting on your
behalf.
 Read our
FAQ’s for FSB Members
To qualify for the Credit Management Service, contact STA
Graydon - and remember to mention that you’re an FSB
Member.
| Call 0844
324 0623 |
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