23% Increase in Unpaid Business invoices
Unpaid Business Invoices are on the increase according to new data from finance experts.
There has been a sharp rise of 23% according to AI platform provider Sidetrade since the lockdown began. This follows analysis of 26 million B2B invoices. The payment behaviour of 3.7 million firms in the UK is monitored and has unsurprisingly deteriorated over the past few weeks.
In Sidetrack’s report data, scientists and experts considered payment delays that were greater than the normal average. Since 11th March 2020, the delay in payment of Business Invoices has been skyrocketing. Recovery of Debt during Coronavirus is proving essential for many Businesses.
Whilst the level of unpaid Business Invoices has spiked in the UK, it is nothing like the problems facing our European neighbours. Over 26% of Business Invoices in the Netherlands remain unpaid, 44% in Belgium, 52% in Spain, 56% in France and a staggering 80% in Italy.
The sharp rise in Unpaid Business Invoices correlates directly the the coronavirus pandemic. Inter-company credit facilities is the main factor in the Economy. Millions of European Businesses are facing insolvency as a result of the Covid-19 pandemic.
In the UK alone, insolvency Experts have predicted that one fifth of companies will collapse. Delays in B2B Invoice Payment is an on going battle for the UK’s Business Community. The latest events caused by the coronavirus have only sought to elevate the problem. We have supported thousands of Businesses over the past fifteen years in tackling this negative issue.
If your Business is waiting for payment or being given the run around currently, it pays to speak the Experts. Our Business Debt Recovery Team are here to help you and your Business during this Coronavirus pandemic. We collect million every year in unpaid Business Invoices and can help you too.
Professional Debt Recovery is a very valid Business resource. Our Award Winning services see our clients get what they are owed. Maximum results for minimum cost. If your Business is not getting paid and the blame is being put on the Coronavirus issue, you need to deal with it quickly.
For immediate advice on tackling Unpaid Business Invoices, contact us now. Our Friendly Team will advise you of the best solutions to ensure you get paid. Unpaid Business Invoices have taken down many Businesses already, do not make the mistake others have and take action today.