Avoiding Invoice Scams, Government Tackling Late Payment, and Business Banking Hubs - BFB 249
By Rob Warlow
To start this week’s podcast, we look at findings from a Barclays Bank survey which reveals that more small businesses are falling victim to invoice scams. With this type of fraud on the rise, what can you do to protect yourself? In his Spring Statement, Chancellor Philip Hammond has listened to calls from small businesses to act in tackling late payment. The government has laid out the steps it plans to take in order to reduce the cashflow burden caused by larger firms delaying payment. To round off this week’s Bulletin, with banks closing increasing numbers of branches, it’s rare to hear of new ones being opened. Barclays, Lloyds and NatWest though have announced the pilot launch of shared Business Banking Hubs. Could this collaborative approach be the way forward?