At least two in every five small businesses will ignore the right to enforce new late payment charge...
At least two in every five small businesses will ignore the right to enforce new late payment charges, which is introduced today as an addition to late payment legislation.
A poll of over 100 small business owners by www.startups.co.uk - a website designed to offer small business useful tips on running or starting a small firm - suggests 44% do not plan to use the charges because they are afraid of upsetting important customers.
EU changes to the Late Payment of Commercial Debts (Interest) Act 1998 now mean firms to claim up to £100 for the debt recovery of overdue bills.
But while the charges should empower small businesses, startup's research matches that of the British Chambers of Commerce, which says charges are more likely to benefit larger businesses that have the resources and power to impose debt penalties without worrying about losing trade.
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