Northern businesses 'affected by unpaid invoices'

11/03/2008

North-west businesses are losing thousands of pounds every year as a result of their clients neglecting to pay their invoices, it has been claimed.

Figures from Cattles Invoice Finance, a business finance provider, reveal that £12,152 is lost on average every year by businesses in the north-west because of unpaid client invoices, This Is Lancashire reports.

This makes the region the most affected in England, with the figure exceeding the national average of £4,713 in unpaid invoices.

Over 300 small and medium-sized businesses were quizzed in the survey, with Midlands-based firms found to be least affected by the phenomenon, only losing out an average of £895 per firm.

Some companies can use invoice discounting to draw money against their existing invoices.

Barclays recently announced that small British companies can be significantly threatened by clients who do not pay for their goods and services promptly.