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Business Finance Blog

Debt collection

Hilton-Baird’s business finance blog has been established to deliver up-to-date and extensive finance articles to keep you abreast of economic and industry specific business news, as well as further issues concerning SMEs and corporate businesses, throughout the UK.

Are you charging late payment interest?


Small and medium-sized companies are owed nearly £40bn as a result of late payments, threatening their future, recent research has found. With the average company waiting for £38,186 in overdue invoices, the ongoing issue of late payment is clearly taking its toll on the cash flows of businesses across the country. But with businesses able to charge late payment interest to help cover the cost of debt collection why do so many choose not to?

6 debt collection myths dispelled


A worrying 56% of businesses wrote off more than 1% of their turnover as uncollectable in 2013 alone, according to our research, a problem that could have been reduced if businesses were to seek the help of debt collection agencies. But unfortunately age-old myths about debt collection services exist, scaring many away from using their services .

Here we tackle 6 debt collection myths and show that, by employing the right debt collection agency, you could still get back what you’re owed.

6 ways to stop holidays delaying payment


One of the most common late payment excuses we hear during the summer months is “my director is on holiday”. But there’s no reason a few weeks in the sun should impact on your business being paid. Here are 6 ways to stop customer holidays delaying payment.

One in three SMEs reluctant to chase bad debt


One in three SMEs are reluctant to chase debt owed to them by a customer according to a new survey. But with 85% of businesses reportedly suffering with late payment issues, why are they shying away from getting what they are owed?

Medium-sized firms owed £3.7m each


Britain's medium-sized firms are owed an average of £3.7m in trade debt according to new figures which suggest that, despite the economic upturn, the impact of late payment on UK businesses of all sizes remains severe.

Welcoming back our award-winner


As the distressing culture of late payment prevails, Hilton-Baird Collection Services is thrilled to announce the return of our award-winning Senior Collections Advisor, Peter Hepburn.

Late payment inquiry increases heat on large firms


Large businesses could soon have to disclose how long they take to pay their suppliers following a cross-party Parliamentary inquiry into the deep-rooted problems with late payment – one of 11 proposals they believe would dramatically improve payment performance in the UK.

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