Customers paying late remains the chief worry for growing companies, according to research from the Forum of Private Business (FPB).

Customers paying late remains the chief worry for growing companies, according to research from the Forum of Private Business (FPB).

Almost a quarter (23 per cent) of businesses say late payment is their key concern, followed by poor sales (20 per cent) and complying with health and safety regulations (11 per cent).

Declining bank lending and the steep cost of financing are considered to be the major issue by less than one-tenth of companies.

FPB chief executive Phil Orford comments, ‘[Businesses’] cash flow is being decimated by credit restrictions and declining trade.’

In all, 42 per cent of businesses in the survey are seeing slower payment from customers, compared to just 3 per cent who have noted an improvement.