{"id":76129,"date":"2025-06-30T16:36:46","date_gmt":"2025-06-30T16:36:46","guid":{"rendered":"https:\/\/smebanking.news\/?post_type=product&p=17812"},"modified":"2025-06-30T16:36:46","modified_gmt":"2025-06-30T16:36:46","slug":"17812-iwocapay-levelling-the-paying-field-2","status":"publish","type":"product","link":"https:\/\/smebanking.agency\/platform\/report\/17812-iwocapay-levelling-the-paying-field-2\/","title":{"rendered":"iwocaPay: Levelling the \u2018paying\u2019 field"},"content":{"rendered":"

Before the crisis began, the small business B2B sector was already concerningly inefficient, and coronavirus is only making it worse. Lengthy payment terms consume time and resources, preventing suppliers from growing their businesses.<\/p>\n

With\u00a040% of suppliers owed over \u00a310,000\u00a0in unpaid invoices, it\u2019s not surprising that they\u2019re looking to shorten their payment terms and reduce the risk of being owed more. At the same time, buyers whose companies have seen a significant drop in turnover are seeking longer terms that allow them more time to pay. With buyers and sellers pulling in opposite directions, a trade credit crunch seems increasingly likely.<\/p>\n

\u201cWhat\u2019s emerging is a concerning game of \u2018tug of war\u2019 between small businesses as they look to survive and plan for the future,\u201d says Christoph Rieche, co-founder and CEO of iwoca. \u201cBuyers can\u2019t pay their invoices because they don\u2019t have the revenues, and sellers are being asked to provide longer payment terms to ease the strain whilst already sitting on a growing backlog of unpaid invoices.<\/p>\n

\u201cCoronavirus can and should help trigger a step-change for small businesses to become more efficient, productive, and resilient. We believe the first and most obvious change is to make payment terms fairer between suppliers and customers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Why fairer payment terms can kickstart the SME coronavirus recovery<\/em><\/p>\n

Coronavirus has impacted every sector of the economy, and its reverberation on small businesses has been dramatic. Between 23 March and 5 April 2020, a quarter of all UK businesses ceased trading and over half of those that continued to trade saw a fall in turnover.<\/p>\n","protected":false},"featured_media":48257,"template":"","meta":{"pmpro_default_level":"","tdm_status":"","tdm_grid_status":""},"product_brand":[],"product_cat":[2355,2347],"product_tag":[],"class_list":["post-76129","product","type-product","status-publish","has-post-thumbnail","product_cat-digital-banking-en","product_cat-study-library","pmpro-has-access","first","instock","shipping-taxable","product-type-external"],"yoast_head":"\nReport iwocaPay: Levelling the \u2018paying\u2019 field 2020<\/title>\n<meta name=\"description\" content=\"Coronavirus has impacted every sector of the economy and its reverberation on small business has been dramatic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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