• Almost two thirds of SMEs forced to wait more than 30 days for Government invoices to be settled
Research findings from commercial credit referencing agency Graydon UK reveal today that government departments are continuing to fail to deliver on the pledge by Business Secretary Lord Mandelson to ease the cash flow problems faced by SMEs through the payment of trade invoices within ten days.
According to the Graydon UK survey, 98 per cent of those SMEs questioned supplying government agencies, local government bodies and central government reported that they are still not being paid within the ten day timeframe pledged by Lord Mandelson in October 2008. This compares with a figure of 99 per cent reported in a previous Graydon UK survey undertaken in March 2009.
The new research also reveals that almost two thirds of SMEs (63%) supplying Government departments...