SME Late Payments increase by 48% says New research

Over 3.6 million (72%) small and medium-sized enterprises (SMEs) have some form of outstanding late payment from customers, leaving them £96,772 out of pocket on average, according to new research from Aldermore’s SME Growth Index.
The total value of late payments has increased from the end of 2023, up 41% from £68,715 with outstanding balances continuing to present huge challenges for SMEs.
On average, SMEs are likely to wait an extra 46 days for a late payment to be settled a