The annual Barclays late payments report has suggested that there has been a 20% rise in late payments and bad debts written off in the past 12 months have been almost £5bn – that’s £1133 for every small and medium sized business in the UK.
Government figures are showing corporate insolvencies soaring and many experts in the credit and debt collection sector are urging businesses to instigate proper debt collection procedures to ensure survival.
One way many companies achieve this is by constantly making use of the services provided by company credit report websites. Checking a company’s credit rating online is now affordable and quick.
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