THIRD OF NW SMEs EXPERIENCING CASHFLOW PROBLEMS

Almost a third of SMEs in the North West are experiencing cashflow problems, a new report has revealed.

And half of those firms have blamed late payment for their cashflow issues, according to the poll by Lloyds TSB Commercial Finance.

The results do, however, show a fall in the number of companies experiencing cashflow difficulties in the last six months. In January 41 per cent of firms said they had problems, compared with 30 per cent in July.

Mike Scowen, regional director for Lloyds TSB commercial finance in the North West, stated, “Our research shows that almost a third of SMEs in the North West suffer from poor cashflow. While this figure has fallen slightly from the previous six months, the number is still significant.

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