Late invoice payments cause significant stress to small businesses

A recent survey of over 300 Australian SME’s shows that 40% of small business owners had to rely on personal funds to address cash-flow issues caused by late invoice payments.

Specifically, a large proportion of small business owners believe that large businesses are greedy, they are not willing to negotiate payment terms and do not value the business relationship, causing small businesses considerable stress.

To address this issue, 70% of SME’s surveyed believe government should step in to protect small businesses from let payments.

The report also found, that many SME’s are not aware that invoice financing exists and can be a very cost-effective way to fix cashflow issues.