Insights from our Global Business Monitor
Our latest Global Business Monitor Report found that SMBs in the USA admit they’ve suffered from bad debt over the past year, while many struggle to collect payments from customers on time, stalling cash flow.
We found that over a quarter of SMBs do not receive payment within the standard 30 days expectations, putting pressure on business owners to manage the back office rather than concentrate on growing the business. 41 per cent cited collecting payments as their biggest challenge in managing cash flow.
We also found that 34 percent of SMBs say bad debt is affecting growth and profits for SMBs and 25 percent of SMBs are using external financing, up from last year.