Lamport Bassitt Solicitors - Legal News - Debt recovery from local councils 'a problem for UK SMEs'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Debt recovery from local councils 'a problem for UK SMEs' Debt recovery from local councils continues to be a significant problem for small and medium-sized enterprises (SMEs) in the UK, it has been claimed. According to the Forum of Private Business (FPB), some authorities are paying their suppliers late on up to 30 per cent of occasions. The organisation's Phil McCabe said the problem is "life or death" for some firms. He added: "The impact of late payment is this: firms will close, they'll be forced to because they can't maintain cash flow, which is the lifeblood of business of any kind." According to the expert, research from the FPB - which claims to represent more than 25,000 small businesses - late payment of invoices is the most significant concern for most SMEs. He went on to suggest that firms are subject to a "postcode lottery" in terms of their treatment by local councils, with businesses in some areas being paid promptly and others having to wait. Related Articles: 31/1/2012 - Mediation services could be the healthy alternative during divorce 27/1/2012 - NHS trust faces legal action over mileage rates 24/1/2012 - Ken Clarke backs mediation services push 11/1/2012 - Djanogly renews calls for mediation over court 23/12/2011 - Landbanking companies ordered into liquidation More Dispute Resolution News