(PRWEB UK) 7 October 2012
The BCC survey revealed that 94 per cent of businesses have had to wait for payment beyond the usual time limit, with 38 per cent admitting they pay late sometimes, frequently or always. 35 per cent of businesses admitted they paid late to help cash flow, while a third admitted they were unable to pay suppliers until they received payment from their own customers. 41 per cent said late payments had an impact on business relationships.
The survey also revealed that 85% of companies paid using BACs and 95 per cent of businesses preferred to be paid that way.
A spokesperson from SmartDebit said:
“BACs are such a vital tool for businesses, they ensure prompt payment between companies and can help avoid a chain reaction of late payments which effect small business the most. The results of the BCC survey reveal what an impact late payment has within the business sector and that it’s an all too common occurrence. With such a large majority preferring to use BACs payments, it’s a practise that should be introduced by all businesses.”
SmartDebit are continuing to study the results of the latest BCC survey with interest.
SmartDebit® are the UK’s leading Direct Debit service providers, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.