Business Services

Late payers threaten to demolish building firms

A quarter of small and medium-sized building firms are at risk of going out of business because clients don't pay their bills promptly. One in four smaller construction firms surveyed by invoice processing firm Tungsten Corporation reported that late payments meant they faced the threat of having to stop trading. The study also revealed that 42% of building firms felt the late-payment problem had not improved in the past 12 months, with 32% suggesting it had become worse. Despite the scale of the problem, just 22% of respondents had heard of the Prompt Payment Code.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?