Bristol technology company itsettled is looking to help SMEs struggling under the burden of late payment.
As part of its #GetTheUKPaid initiative, the firm is giving 1,000 UK businesses the opportunity to use its automated payment collections platform for free.
The pledge follows the government’s announcement (16 March 2021) that Liz Barclay, the new Small Business Commissioner, will be leading a crackdown on late payments to small businesses when her term begins on 1 July.
Delayed invoices have become a huge headache for companies across many industries, with the coronavirus pandemic further exacerbating the problem. Currently there is over £50 billion owed in late payments to UK Businesses.
Glen Morgan, CEO, itsettled said:“We welcome the government’s news that tackling the UK’s late payment problem will be a top priority for the new Small Business Commissioner. Having worked closely with both previous commissioners, we look forward to continuing this strong relationship with Liz and her team.
itsettled was founded in 2019 by Glen Morgan and Jonathan Wingrove.
Glen added: “Although there’s light at the end of the tunnel for many businesses with the government’s announcement last week and the easing of COVID restrictions, we wanted to do something to help those struggling with cash flow issues today.”