News and Events

CSA members collect £148m

12/07/2012

Members of the Credit Services Association have continued to support the UK’s businesses during the first quarter of the year by recovering £148 million worth of commercial debt.

The figures demonstrate just how difficult the endemic problem of late payment remains at present, particularly when taking on board recent research from Bacs Payment Schemes which found that £35 billion was owed to small businesses in outstanding payments at the end of 2011.

This means that the average business is owed a shocking £45,000 in overdue payments, creating a significant hole in their cash flow. Fortunately, the support offered by specialist commercial debt collection agencies such as Hilton-Baird have helped to fill that gap and keep SMEs’ cash flowing.

The news comes as the Forum for Private Businesses has joined the Federation of Small Business and Institute of Credit Management in calling for the country’s largest firms to sign up to the Prompt Payment Code, with just 25 of the FTSE 100 currently registered.