Judges Demand

Late Payments and their cost on Mental Health – Did you know….

Published On: 12th March 2020

Research published by Pay.UK has found a link between late payments and the impact they have on small business owner’s mental health.

Over 25% of SME business owners worry about late payments when they are not at work and over 15% of SME business owners say that late payment problems affect their confidence and result in them questioning their own ability to ‘head up’ a business.

It is not surprising to read that over 65% state that late payments take the enjoyment out of running a business and just under 10% of business owners have thought about seeking professional support to help them deal with the stress and anxiety that comes with late or non payment.

The ramification that late payments bear in relation to small business owners emotional welfare include :

  • Paying their own supplies late
  • Relying on overdrafts
  • Cutting their own salaries
  • Difficulty paying their business bills

With the statistics and facts provided above, it is easy to see how late payments can have an impact on a business owner’s mental health. Here at Judge’s Demand, we understand that your business is your livelihood, we understand that you have worked extremely hard to get your business to where it is now and we also understand that dealing with your debtor’s can be a very daunting and stressful task that can heighten anxiety. With this in mind, Judge’s Demand have created a service that caters for all your credit control and debt recovery needs. By instructing Judge’s Demand you are already lightening the load and taking a weight off your shoulders, knowing that we are working tirelessly to recover your late payments.

At Judge’s Demand we work with lots of SME’s, therefore we understand the affects that late payments can have on; cashflow, employing staff, paying rent etc and that is why our Account Handler’s come with a wealth of knowledge and are highly experienced and skilled in the debt recovery industry.

Why not get in touch with our friendly team to discuss our service’s and how we can help you. For a free, no obligation chat, please call 0151 329 2138 or email info@judgesdemand.co.uk