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Intuit Study: A Third Of Small Businesses Grapple With Late Payments

“Intuit found through a study that, across the globe, as much as 61 percent of small businesses (SMBs) face difficulties when it comes to managing cash flow” reports pymnts.com. Under that code, companies embrace paying suppliers (that are also small businesses) within 30 days.When it comes to late payments, 53 percent of small businesses said they invoice, “while 47 percent require payment in advance.” Thirty-one percent of those surveyed said they wait “more than 30 days to get paid by customers,” as noted in Small Business Computing.Hiccups in accounts receivable — such as not getting paid on time — mean that business owners can struggle to meet their own financial obligations.The findings showed that about 69 percent of respondents said they are “kept up at night” with worries over cash flow.
 
Source: pymnts.com



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