Bacs survey – £26 billion owed in late payments

Almost half of the UK’s small to medium sized enterprises (SMEs) are being paid late, according to Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK. The average late payment debt now stands at £32,185. But when asked about the UK’s decision to leave the European Union and its impact on being paid on time, an overwhelming majority (83 per cent) felt that ‘Brexit’ would have no impact on late payments. Read more here.