Friday 18 May 2012
One small business owner has been waiting three years for an invoice to be settled, according to reports.
Peter Darcy, who runs Peter Darcy Industrial Training Services in Gosport, told the BBC how his firm is being badly affected by late payment.
The company - which trains forklift truck drivers and crane operatives - has had particular difficulty getting large businesses to pay their bills on time.
One shopping centre used the firm's services three years ago but has still not paid its bill, Mr Darcy said.
He noted that late payment is very often not on purpose, but this offers little comfort to the businesses affected.
"An invoice comes in and it floats around an office for months before you even get in touch to say - 'why has this not been paid?'" he stated.
"You then find out it's been sitting in somebody's in-tray or has gone to the wrong person."
Recent research carried out by the FPB found that 51 per cent of small businesses have experienced late payment over the last 12 months.
Of these, 23 per cent cited late payment as a 'serious' problem, with 16 per cent saying they have almost been put out of business as a direct result.
Posted by Dan Smith