Posted: Wed 27th Nov 2019
For the fourth series, a brilliant line-up of entrepreneurs and experts share insights and inspiration on how to start and grow a brilliant business.
Hosted by Enterprise Nation head of content Dan Martin, we're covering issues including business growth, retail, late payment, mental health and alternative finance over 12 episodes.
Episode 10: How to deal with late payment
Late payment is a massive issue for small businesses.
Recent research showed UK SME late payment debt has risen to £23.4bn, up £10.4bn on the £13bn owed in 2018. It is estimated that the average business is owed £23,360 in late payments and there are an estimated 50,000 insolvencies as a result of the problem every year.
In this podcast, we're joined by former Small Business Commissioner Paul Uppal (he left the role after we recorded the podcast) and Rob Drake, co-founder of Brave Spark. They discuss issues including:
How to chase overdue payments
How the Small Business Commissioner's office can help
Examples of large businesses that aren't paying on time
Whether big businesses should be fined for not paying late
The impact of late payment on business owners' mental health
Whether you're having trouble finding the numbers you need in spreadsheets, or looking for funding, having beautiful accounts is a must. That's why we've teamed up with Xero to offer you online accounting software to help you manage your cashflow and finances. If you're a start-up earning less than £50,000 per annum, sign up to Xero for Startups with an exclusive 50% off for 12 months!
Ths podcast was recorded and edited by Enterprise Nation member and audio production service, Podraffi.
To hear all previous episodes of the Small Business Sessions, go here.