MAAG - Payment Terms Survey

Taking action against late payers

Companies with a £36 million annual turnover have an obligation to report to the government about their payment practices. According to research from invoicing specialists at Business Expert, only 316 out of the 6,613 businesses in the latest government report stick to 30-day payment terms. Additionally, 20% of the businesses in this list pay more than half of invoices days late.

The result: UK SME’s are owed £44.6 billion in late invoice payments.

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Question Title

* 1. What percentage of your clients adhere to the following payment terms?

30 days

60 days

90 days

Over 90 days

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* 2. Do client's with agreed monthly payment terms honour the terms or are they late?

Yes

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* 3. Are late payment terms having a negative impact on your ability to build/sustain your agency?

Yes

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* 4. If YES what is the impact – (You can tick more than one box)

Cash flow resulting in late payments to own suppliers

Need to take on debt

Reduce overheads (headcount)

Worsening morale and/or mental health/well being issues

Restricting investment (including on training)

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* 5. If necessary please provide further comments in relation to Question 3 and Question 4. (25 words max)

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* 6. Who are the worst offenders? – Please can you name the clients?

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* 7. Optional - Your details (Your feedback will be treated with complete confidentiality)

Name

Company

Address

Address 2

City/Town

State/Province

ZIP/Postal Code

Country

Email Address

Phone Number