Late payment by customers is a serious issue for any business. According to research by BACS Payment Schemes Limited (BPSL) there has been a significant rise in the number of small businesses experiencing late payment problems. In 2005, 59% of small businesses experienced problems with late payments - almost double the percentage for the previous year.

To help businesses avoid the problem in the first place BPSL has put together some tips on how to avoid late payments.

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BPSL press centre and 10 tips