A total of S$4.1 billion worth of invoices were paid late to small businesses in Singapore in 2018, according to the global small business platform, Xero. Regardless of how late they are, late payments are stacking up to be a major issue for small businesses. Past research from Xero found that as a result of late payments, small businesses faced a backlog of work (59%), suffered from reduced productivity (46%) and experienced cash flow issues (39%), in addition to reduced morale of employees and struggles to pay staff. We talk to Kevin Fitzgerald, Regional Director, Asia Xero to find out more.

<p>A total of S$4.1 billion worth of invoices were paid late to small businesses in Singapore in 2018, according to the global small business platform, Xero. Regardless of how late they are, late payments are stacking up to be a major issue for small businesses. Past research from Xero found that as a result of late payments, small businesses faced a backlog of work (59%), suffered from reduced productivity (46%) and experienced cash flow issues (39%), in addition to reduced morale of employees and struggles to pay staff. We talk to Kevin Fitzgerald, Regional Director, Asia Xero to find out more.</p>

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