“Simply staggering,” is how Luisa Grey, a director at Eazipay, one of the UKs largest Direct Debit bureaux, reacted to new figures claiming that SMEs are forking out around £10 billion a year chasing late payments.
The figures released by Bacs Payment Schemes Limited (Bacs) show that while the overall late payment burden shouldered by the nation’s SMEs has fallen by about £10 billion - down from £41.5 billion in 2014, to £31.3 billion today, the cost of recovering monies owed to them has risen to an all-time-high of £10.8 billion. This cancels out any gain from the overall reduction.
New figures reveal that generous Brits continue to dig deep for charity, with a huge 60 million Direct Debit donations made last year.
The processing data, released by Bacs Payment Schemes Limited (Bacs) – the not-for-profit organisation behind Direct Debit in the UK – shows that two million more of these donations were received by charities in 2014 than the previous year.
Conventional wisdom has it that Christmas parties are held around, um, Christmas.
Eazipay, however, has never been a conventional company * which is why we decided to hold our Christmas Do in April.
Cambridgeshire-based Eazipay Ltd, the UKs largest Direct Debit processing company, is celebrating another record-breaking year with the announcement that by the end of 2014, the company had processed almost £330 million in Direct Debit transactions on behalf of its clients.
From the day we are born till the day we die, we take risks. We have to, or else we wouldn't achieve anything. Whether it's risking a burned tongue because you can't wait for the day's first coffee, or sending money to someone you haven't met to win money on a lottery you haven't entered, risk is an important part of life.
The skill comes in knowing what the risk is, what the rewards are if it goes well, and the penalties if it doesn't.