Late payments have always been a problem for businesses, particularly small and medium sized enterprises (SMEs). Now new research from Bacs, the organisation behind Direct Debit, suggests this late payment mountain has got bigger than ever, standing at an astonishing £46.1 billion.
Not being paid on time can easily cripple an otherwise healthy business. As Luisa Grey, a director at Eazipay Ltd, the UK’s largest and fastest growing Direct Debit bureau, explains, firms can take steps to increase their chances of receiving the money when it's due.
“Another year of missed opportunities as the amount of money that companies owe each other grows higher and higher.”
That’s the verdict of Luisa Grey, a director at Eazipay Ltd, the UKs largest and fastest growing Direct Debit bureau. Luisa’s comments were prompted by the revelation from Bacs, the organisation behind Direct Debit, that the late payment debt mountain being shouldered by UK businesses has reached £46.1 billion.
Eazipay Ltd, the UKs largest Direct Debit processing company, has today announced it has received direct authorisation from City watchdog, the Financial Conduct Authority (FCA).
The announcement sees Eazipay become the first Direct Debit Facilities Management Bureau in the country to receive FCA approval, and further cements the company’s position as one of the UK’s leading Direct Debit processing companies.
Eazipay Ltd, a leading Direct Debit processing company based in Cambridgeshire, has announced its support of Marie Curie Cancer Care’s Great Daffodil Appeal.
Throughout April, Eazipay, one of the UK’s largest Direct Debit bureaus in the country, will be donating 6p to Marie Curie Cancer Care for every new Direct Debit that is set up on behalf of its customers.
Businesses across the country are being reminded to plan ahead if they are to avoid missing important payment dates over the Easter period.
Bacs Payment Schemes Ltd (Bacs), the company behind Bacs Direct Debit and Direct Credit is urging businesses, which normally make or collect payments using these methods, not to overlook non processing days over the Easter Bank Holiday.