The average small and medium business has outstanding payments owed to them in the amount of £39,000 according to recent research by BACS, the organisation behind direct debit and BACS direct credit. With total outstanding payments being £33.6 billion, up over £3 billion from last year, and the time spent waiting for payment increasing significantly, this is an increasing problem for small and medium businesses.

Interestingly, the research has also shown that large companies are responsible for as much as 48% of the late payments to small and medium businesses.

The Litigation Team at Wortley Byers have experience of recovering monies owed to businesses of all sizes.

For further information or assistance in recovering outstanding payments please contact Rachel Brown on 01277 268365 or rbrown@wortleybyers.co.uk.

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