Late payment of invoices seriously hurts business cashflow, preventing them from running smoothly from day-to-day and forcing many to close their doors forever. But invoice finance provides a great solution that every small business should consider.
Do you think your bank cares about your small business? If not, why do you stay with it? Just 4% of businesses move banks per year according to the Competition and Markets Authority, so it is little wonder services don't improve. At Muse, we think there is a better way...
As a small business owner, you need to know how much money you have in your company at any time. It is vital to know you can pay any bills due from suppliers, or to cover VAT or other expenses that could make or break your business if you fail to hit the deadline.
You’ve just completed your work on time and on schedule, doing what you and your business do best and now all you have to do is collect your deserved payment. However, what happens if you haven’t been paid yet and the invoice is overdue.
Seven in 10 small businesses in the UK have faced legal costs as a result of commercial disputes, amounting to a crippling £11.6 billion per year according to data from the Federation of Small Businesses.
Nearly a third of small businesses are being forced to delay payments to their own suppliers as a result of late payments creating cashflow difficulties for them, perpetuating the late-payment culture in business.