Even when times are good, cash flow is a struggle for small- to medium-size businesses (SMEs). According to research from Xero and Accenture, late payments cost UK small businesses approximately £684 million annually. That doesn’t even account for the time businesses lose in chasing those payments.
In today’s conditions, making ends meet is that much more difficult. Scan the news headlines right now and you’re sure to find an article about inflation, supply chain disruptions, increased energy costs, higher taxes and interest rates – the list goes on.
It’s a sobering . . .
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