BUSINESS GROUP CALLS FOR SPEEDIER END TO CHEQUE PAYMENTS

ChequePlans to axe the cheque by 2018 should be brought forward to reduce the number of businesses struggling with late payment, the British Chambers of Commerce (BCC) has said.

The comment follows a survey which questioned around 5,000 businesses and found that the majority (85 per cent) are paid via BACs bank transfers, with 95 per cent of firms reporting it as their preferred method of payment.

Conversely, two thirds of businesses are paid by cheque yet only a fifth prefer being paid in this way.

Read the full article on the Cannon Moorcroft website…