Four in ten UK SMEs take over 90 days to pay their contract staff
New research by Sonovate indicates the number of UK SMEs that take over 90 days to pay their contractors has increased 40% YoY.43% of UK SMEs struggle to pay their contract workers on time due to cash flow problems.
63% say that late payments from clients or customers have a negative knock-on impact on their ability to pay contract workers on time.
Comparative annual research finds worsening cash flow issues at UK SMEs make it even harder to access and retain talented contract workers.