04 Nov, 2015 – UK – The latest UK Business report has shown that many small businesses and midsized companies are suffering from a slowing down in payment from Business Customers with the waiting period for the payment now going well beyond 30 days.
The SME Confidence tracker report compiled by Invoice Finance experts Bibby has found that over half of British companies are now waiting more than 30 days for payment.
The UK Government has tried to handle this issue but the results for the 2nd quarter of this year reveals that the amount of SMEs suffering owing to the late payment issue has risen by 9%, which is causing great concern amongst Economy experts. This figure has risen against the same figures for last year. The current situation has made many SMEs to accept irregular payment terms or at worst, go out of business. In construction sector, the situation is much worse as many small sub contractors have lost their businesses.
This problem needs to be tackled head on and an increase in Civil Court fees has not helped the situation. One UK Company has decided to help small businesses ease the situation by providing a completely free service.
If you are a small business owner, then you will be delighted to know that Debt Collection Comparison site Best4DebtCollection.co.uk has now launched a free Debt Collection App to help Businesses overcome this trying situation. With this app, you will be able to send a free “Notice before Action” which would notify your debtors about the outstanding amount before you take any action against them.
This novel app would help your cash flow get better as it can be used to recover debts that were issued for a period of 6 years or lesser. This app allows you to send a final warning for free to collect the debts before initiating an action to warn against outstanding amount for a debt.
You can check for the details of this best4debt App at the link, www.best4debtcollection.co.uk. You can now find enough details about debt collection app and reap the benefits arising out of it to keep your business up and running. This best4debt App is your shortcut to stay in touch with your debtors and to remind them in a gentle way to pay the dues before taking any Debt Recovery or legal action against them.
In addition, this free app can help you locate the debtors who have not paid their dues using its tracing feature, perform credit checks and know the updates in debt collection industry by clicking on the news section. This app can be used for sending notice before action for invoices that are not paid, private debts and for accounts that are overdue.
The best4debt App is also a great choice for those who are in search of the best Debt Collectors as it can be a challenging task with over 400 agencies across the UK region. This app helps you to refine your search for the perfect debt collecting business based on various criterions such as locality, sectors, value and volume.
Best4DebtCollection helps people to source the best fit Debt Collection solution for their needs in any location by making a comparison of the best debt collectors in and around UK. They have an expert accredited panel of Agencies which makes them a trusted choice.
Company Name: UK Debt Collection Bureau
Contact Person: Tony Smith
Email: Send Email
Phone: 0333 043 4417
Address:Unit 36, 88-90 Hatton Gardens
Country: United Kingdom