Talking telephone numbers!

I read an article recently that included a quote from a director of Barclays Business bank, which said that:

“We estimate that around £9 BILLION is owed to UK SME’s each day”

That is EVERY day…

To give you an idea…

The savings the latest budget is trying to make – that has everyone going through hoops! – is ONE WEEK of prompt payments to businesses…

How about this?

The money the banks should be lending but aren’t? – TWO WEEKS of prompt payments…

Think it might be time to re-think your credit control strategy now? (Or worse, get one?)

For the businesses that can – pay on time… help the others catch up…

We have no-one to rely on but each other… keep the money moving!

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This entry was posted on July 6, 2010 at 5:07 pm and is filed under Cashflow, Collections, Credit Control & Credit Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Max Says:
July 6, 2010 at 6:05 pm | Reply
When you put it like that Geoff… it really IS time to focus on cashflow isn’t it!
Geoff Townsend Says:
July 7, 2010 at 4:20 pm | Reply
Couldn’t agree more Max…

Banks aren’t lending, a scary number of people in the public sector face redundancy, and they call this “the recovery”…!

Cashflow IMO could not be more important than it will be in the next 12-18 months…