Survey: SME experiences of late payment

Does getting paid sometimes feel like a battle? If so, are you using every weapon in your arsenal to claim the money that’s owed to you?

There are regulations that can help small businesses get their hands on what’s rightfully theirs (read more about them here), but we’d love to know whether our SME members are aware of these resolutions and have used them before. If so, did they do the trick? And, what else could be done to help in these scenarios?

Please take a moment to complete this short survey to share your experiences of late payment. Your feedback will form essential evidence for our policy work and influencing regulatory changes for the better.

How to complete this questionnaire

Please select your options or add your comments to the boxes, then click 'Submit'.

Personal information

Name

Tick this box if you would like to help us with our campaign

About your business

What is your annual turnover?

Number of employees in your organisation

How long have you been in business for?

Late payments

What time is normally allowed for payment in your contracts?

Is late payment a concern for you?

If yes, do you mainly have issues with big businesses?

Has the situation worsened while you’ve been in business?

Statutory interest

Are you aware of your right to claim statutory interest?

If yes, have you ever claimed it?

If you have claimed it, did it result in you receiving payment?

Prompt payment code

Are you aware of the Prompt Payment Code?

If yes, do you check whether prospective customers are signatories before working with them?

Do you have any other comments on the Prompt Payment Code?

Small Business Commissioner

Have you ever raised a complaint with the Small Business Commissioner?

If yes, was your complaint successful?

Feedback

Any other comments about late payment, or suggestions for more that could be done?

Using your personal data

The protection of personal privacy is an important concern to ICAEW. Any personal data collected will be treated in accordance with current data protection legislation. For more information about our data protection policy please go to icaew.com/dataprotection.