The human cost of late payments

▤ Summary

We talk a lot about how late payments affect businesses from a financial and operational perspective. We teamed up with PayPal to find out more about how late payments affect, not just British businesses – but their owners too. Overall, 35% of SMB owners claimed late payments meant an increased risk of debt – and 52% said they’d used their own money, or that of their friends and family, just to keep going. Running a business is an act of love, but it can also place a strain on entrepreneurs – particularly if they don’t know when the money they’re owed is coming in. Accounting tools such as Xero, supported by PayPal’s “Pay Now” functionality, can make managing invoices simple and straightforward.

▦ Linked Companies

Xero

$1B+