Recent research carried out by Tide has revealed some worrying statistics for UK SMEs when invoicing for work carried out.
"The study found that the average UK SME is chasing 5 outstanding invoices at any one time, amounting to an average of £8,500 being owed and 1.5 hours per day being used" [Penney 2020].
The purpose of this questionnaire is to find out the position of Design SMEs with regards to late payment to see if they align with this research.
Reference:
Penney, A. (2020). New Research: UK SMEs chasing 50bn in late payments. [online] Tide. Available at:
www.tide.co/blog/tide-update/new-research-uk-smes-chasing-50bn-in-late-payments/ [Accessed 25 September 2020]