Often information comes your way that provides an interesting juxtaposition. So on the same day that the Law Society reported that small businesses have to wait for 71 days on average for invoices to be paid, a survey from Unum claimed that yer average UK employee could survive for only four weeks without full pay. Only around a quarter of those surveyed thought they’d get through for longer without having to seek help.
Now this is interesting, because assuming that accountants were represented in the Unum survey, it would appear that they believe it is OK to impose conditions on small business owners way beyond what they themselves would find tolerable. Ask any small business owner what is their biggest challenge and they’ll tell you it’s getting paid. It’s clearly time for the Government to stop ‘encouraging’ prompt payment of bills and start enforcing it.