Home » Market News » DirectorsTalk Highlights » Two-thirds of small businesses left waiting for payments during coronavirus
1pm plc

Two-thirds of small businesses left waiting for payments during coronavirus

Almost two-thirds of small businesses have been hit by late or frozen payments during the Covid-19 pandemic, according to a report by the Federation of Small Businesses.

The FSB said its survey of more than 4,000 buinesses showed most small firms have been affected, deepening the already crippling late payments crisis.

A spokesman for the Department for Business, Energy and Industrial Strategy (BEIS) said: “Late payment can mean the difference between survival and bankruptcy for many small businesses. We expect big companies to stand by their smaller partners and pay them on time.

1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring.

To read the full news article please click here

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.