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Trading times are tough

The Financial Times recently reported on the burden of late payment [1] borne by small businesses. The article refers to data published by Bacs Payment Schemes, the direct debit company. BPS estimates the debt burden on SMEs is £39.4bn, up from £30bn in 2013 and higher than a previous peak of £37bn in 2012.

Mike Cherry, national policy chairman at the Federation of Small Businesses, said: “These latest figures are a further reminder of the major headache caused by late payments. Not paying on time and lengthy terms can have a seriously detrimental impact on small firms”.

ARAG [2] can help 

More about on-line legal documents

Policyholders can manage debt problems before they escalate by using our on-line legal documents. On-line documents can be created in minutes and stored securely on-line.
      The debt recovery pack contains a suite of letters, or individual items can be selected, including;

Businesses can save significant additional costs and time as well as avoiding the knock on effects of late payments. If you sell Essential or Absolute Legal Solutions make sure your clients have their voucher code and get them to register straight away.

If you would like details of our commercial products please call us on 0117 3072278.