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the numbers

Sources: Chartered Institute of Credit Management / Graydon, BACs, Coface

Stat track £9,000 is the average cost for each business to recover overdue funds

27.2% of invoices from small businesses are paid late in the UK

£6.7bn is the collective cost small businesses face to chase up money they’re owed

19,894

39 days is the average time payments take to arrive, with 33% arriving between 31 and 60 days and only 51.7% within 30 days

is the number of corporate insolvencies taking place across 2019

£92m

was paid from credit insurers to UK companies in 2018’s second quarter – the highest ever sum and equal to £1m a day 06

COFACE | CREDIT MEANS CREDIT

Coface infographic.indd 1

29/03/2019 17:08

Profile for Elite Business Magazine

Coface - Credit means credit  

Coface - Credit means credit