Prompt Payment Code, Knowing Your Numbers, and Company Insolvencies - BFB 256
By Rob Warlow
With increasing focus being given to tackling late payment, we open our latest Bulletin with news of tough actions taken by the Prompt Payment Code organisation to ensure its members adhere to guidelines. A survey on how many business owners have a grip on their financial performance and key indicators reveals that many have a lot to learn. We look at why it is important to know your numbers especially when it comes to raising finance. To close the Bulletin, we review the latest company insolvency statistics released by the Insolvency Service for Quarter 1 2019. Perhaps not unexpectedly, the figures make gloomy reading.