Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, has commented on the Chancellor’s call for evidence into the issue of late payments in his Spring statement.
He said, "As small businesses continue to face challenges in the lead up to Brexit, it is vital that they, as the bedrock of the UK economy, are paid on time and in full."
"Our latest Future Attitudes research shows that late payments are the main concern for one in seven (15pct) of the UK’s business leaders, with just over a quarter (27pct) admitting cash flow is their key worry for the next twelve months, highlighting the need for something to be done.
"Today’s announcement is a move in the right direction to help tackle these issues, however it is only the first step. We hope the final consultation on the bane of late payments is comprehensive in nature so that a practical and realistic solution can be found."
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