News Article - Sunday, July 06, 2008 filed under: Business The government is being called upon to address the problem of late payments to small and medium-sized enterprises (SMEs) from big corporate businesses. SMEs can find themselves struggling financially if large clients withhold payment and many invoices can take more than 100 days to settle. A number of firms have had complaints made about them, including retail giant such as B&Q, Selfridges, Alliance Boots and Debenhams, Accountancy Age reports. According to Martin Williams, managing director of credit reference agency Graydon, the problem of late payments to smaller firms is growing, particularly among retail companies, with businesses waiting more than three months for bills to be settled. The Competition Commission has recommended creating a new ombudsman post to...
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