Local small business insolvencies hit a record high in February, with the number of companies entering external administration reaching their highest level since 1999.
SMEs need to make better use of their year-end account management figures, as annual accounts act as the most honest critic of a business’ success.
Business confidence is being further battered thanks to a 40 percent rise in business-to-business bad debt claims and increasing payment terms, leading experts to urge SMBs to better manage their cashflow.
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