UK companies say problem of late payments is getting worse

 
Chris Papadopoullos
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BUSINESSES’ cashflow is being plagued by late payments, according to survey data published yesterday by Lloyds Bank.

Of the firms that said they were experiencing cashflow problems, 59 per cent said they were due to late payments.

The payments problem is likely to get worse, say 31 per cent of firms, up from 27 per cent six months ago.

Cashflow problems are report­ed by 18 per cent of 1,500 UK companies surveyed, most of them small- and medium-sized.

“While the number of businesses suffering cashflow problems has fallen from a peak of 35 per cent in 2013, it remains stubbornly high,” said Donald Kerr, a director a Lloyds Bank.

“Cashflow is the lifeblood of any business but for too many businesses, late payments continue to be a significant problem.”