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Getting Paid The Truth About Unpaid Invoices

A report looking at the unpaid invoice crisis in the UK, giving small business practical advice and tips on how to get paid on time.

In the following pages, we’ll lift the kimono on the very real unpaid invoice crisis that is having a damning effect on UK small businesses. We’ll then offer five simple steps that any small business can take to act now and start buck-ing this trend. Finally we’ll demonstrate our vision for invoicing and how simple it really can be.

We surveyed financial directors and business owners from small businesses based in the UK and asked them a series of questions about invoicing and the impact it has on their business. While this is only a sample of the 2,562,415 small businesses* there are in the UK, it gives a very strong picture of the very real issues there are.

*defined as companies with fewer than 250 employees

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SME infographic 20120213

Getting paid – why invoicing is so important for small businesses

There isn’t a single small business in the UK that will need to be told how difficult the last few years have been. But savvy businesses have used these tough times to innovate and change the way they work and are benefitting as a result.

Invoicing is one such area. So we asked UK small businesses about the impact of unpaid invoices on their business. This is what they told us.