Also in the news...
Trade with the UK as a business based in the EU
If you run an EU-based business, check what your business needs to know to continue trading with the UK.
Safety and security requirements on imports and exports
Find out about new safety and security declarations that will apply from 1 October 2021 on goods leaving Great Britain (England, Scotland and Wales).
How to open a company in the USA while maintaining residence in Italy
It is one of the best ways for the Italian citizen to manage their business. This corporate vehicle allows access to multiple advantages of an advanced jurisdiction such as the US and also manages to maintain a low tax rate with very manageable levels of accounting and bureaucracy.
UK-ASEAN Joint declaration
Joint Ministerial Declaration on Future Economic Cooperation between the Association of Southeast Asian Nations (ASEAN) and the United Kingdom of Great Britain and Northern Ireland (UK).
DUBAI EXPO STARTS NEXT MONTH - AND IT'S NOT TOO LATE TO JOIN!
These are exciting times for Dubai and the UAE. With the entire business world’s attention soon to turn to the Emirates with the delayed Expo 2020 kicking off in October (and continuing all the way through to the end of March next year) it’s never been a better time to be a UAE business owner
Is It True? A Credit Check Suggests...
The recent media reports about large companies delaying payment has encouraged me to look at the ‘inside information.’
Late payment and the cash flow pressure it puts on small businesses is becoming a heated topic. The most recent furore has now put Debenhams in the spotlight after reports in the press suggested that the high street store is increasing the time it takes to pay suppliers.
I imagine the two questions that most concern a credit controller are, can they pay, and when. In the case of Debenhams the recent fuss has been about the ‘when’. So I decided to see what a credit check on Debenhams with First Report would show a potential supplier interested in seeing actual payment records.
A shameless plug: the payment records in our credit reports show the overall trend, and also show days beyond terms by size of invoice, from smaller invoices under £1,000 up to suppliers who have issued invoices for £100,000 or more.
So are Debenhams increasing the time they take to pay, and do they make smaller suppliers wait longer for payment? I’ll let you decide how you would interpret the data. Here’s a link to the latest payment performance in our report on Debenhams which shows payment records up to last month.
If you’re not getting payment records in your credit reports, contact our Helpdesk and open an account with us.