Emma Jones Takes the Helm – Your Business is Finally in the Right Hands
When Emma Jones, CBE, steps into her brand‑new role as Small Business Commissioner, the business world gets a fresh set of eyes on the age‑old problem of late payments. A fresh survey by Purbeck Insurance Services reveals that a whopping 77% of SMEs are still waiting on money from customers who’re running behind – a real cash‑flow headache that’s been draining small companies for years.
Why Are We Still Waiting on Money?
- 10‑plus workers: On average, businesses in this group are owed between £18,000 and £22,000 in unpaid invoices.
- 100‑249 employees: These firms hit the biggest pain point, with an average of £22,102 owed.
- 10‑49 employees: Roughly £20,973 on the unpaid side – enough to break an accountant’s smile.
- Micro businesses (1‑9 staff): Even the smallest shops still face about £8,441 in overdue bills.
And yes, it’s happening all over the place – but it’s not evenly spread. The West Midlands, Scotland, and Greater London are all looking at over £21,000 in late payments, while Wales, the South West, and Yorkshire & Humber see considerably less.
Which Businesses Are Feeling the Most? And Why?
60% of surveyed SMEs admit that late payments are hurting their day‑to‑day business. But the biggest stomach‑ache comes from the 100‑249 employee crowd, with a staggering 74% calling it a real problem.
There’s another twist: male owners and managers report higher amounts of late payments (£17,997 on average) compared to their female counterparts (£15,592). The reason? Probably just a few different customer bases, but the difference is real.
What the Purbeck Experts Say
“It’s no surprise that many SMEs are now using personal‑guarantee backed loans to keep the lights on,” says Todd Davison, Managing Director of Purbeck Insurance Services. “They’re essentially forcing customers to pay, and that’s not fair, nor is it right.”
Davison goes on: “We need a quick turnaround on the government’s consultation. This should be a top priority for Emma Jones right out of the gate. Until then, SMEs must stay sharp – chase invoices two or three days before they become overdue, slap on those interest and late‑payment fees, and never let a client think they can just dodge shop.”
Final Word
Every small business is feeling the pressure of rising costs. Using suppliers as a safety net may look like a clever trick now, but it’s a slippery slope that can wreck the entire SME community. Emma Jones and fresh rules on late payments promise a lifeline for those hard‑earned cash balances.
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