But could we business owners be the worst offenders of all?
Hmm. It’s all gone very quiet.
It’s perhaps fair to assume that dealing with overdue payments is not exactly one of the biggest pleasures of running your own business.
But here’s a controversial suggestion;
Are small business owners amongst the biggest culprits of all when it comes to failing to pay suppliers on time?
In just a moment, I’ll reveal the facts and figures from a recent report which indicates that small business owners are just as likely to be the perpetrators as they are the victims.
I’ll also be taking a look at some quick tips and pointers on how you can increase your chances of actually getting paid on time for your hard work!
But first, I just want to tell you about Wonky Simon, my old entrepreneurial friend who supplies products and services to other businesses.
Last time I bumped into him whilst queuing down in the Sweet Pastry Shop, he was ranting and raving about how overdue payments were crippling his cashflow.
“How hard can it be for people to just pay for something on time like they agreed?” he wailed.
“I’m sick of wasting my time on chasing up money that should already be rightfully mine. And now I’ve been forced to put some of my future plans on hold because I’m still waiting for my own customers to pay up! It’s a ridiculous situation!”
I can see his point. Very clearly, in fact.
Wonky Simon’s payments for his latest custom projects from Martin Print have just gone overdue.
His order included Transparent PVC Business Cards, Brochures, and, ironically enough, Invoice Books!
I was going to bring this up with him, but I could tell he was already having a bad day.
I knew he would get the polite email reminder tomorrow anyway.
But whilst small business owners can be hugely impacted by the hassle of late payments, a recent report from Vistr reveals that we’re also amongst the biggest offenders…