Small businesses are struggling with debt during the pandemic. Across Europe, businesses are facing insolvency due to declines in revenue and delayed payment. One UK report argues a fifth of SMEs in the UK will collapse due to a lack of cash because of Covid-19. Separate research by the Federation of Small Business says 50,000 businesses a year go under because of delayed payments. Sidetrade, a B2B Artificial Intelligence platform, is publishing a first-of-its-kind unpaid invoice tracker highlighting just badly how businesses are suffering due to late payment. The weekly tracker is based on statistical analysis of 26 million invoices, representing €54bn of B2B transactions. The UK Government’s Cabinet Office has written to public sector bodies recently, telling them to pay their suppliers despite the Coronavirus pandemic. Read more here.

0

No comments

You must be logged in to post a comment.