Chevron

Latest News

DCBL chevron plain
Accountant Paying Big Bills

ONS Data Shows Large Bills Owed to UK Businesses During COVID

ONS Data Shows Large Bills Owed to UK Businesses – A survey by the Office for National Statistics (ONS) has revealed that businesses across many industries are owed large sums in the wake of the coronavirus pandemic.

Although collected from a limited sample, the Business Impact of COVID-19 Survey (BICS) published by the ONS paints a concerning picture. The average amount owed to each business runs into the hundreds of thousands of pounds, or even into the millions in the case of some tech firms. In many cases, more than half of the businesses surveyed had large sums overdue to them.

Obviously, the pandemic and lockdown have put financial strains on businesses across the board. However, many of these debts have been overdue since before the lockdown. Unfortunately, our experiences as a debt collection agency have shown that many businesses are using the ongoing global situation as the latest in a long line of excuses.

What’s worse, the high level of debt is not helped by businesses being unable to chase invoices as a priority with many workforces stretched thin.

Large Bills Owed – Commercial Debt Recovery Services

While many businesses don’t have the time or resources to chase debtors in a meaningful way, an effective third-party debt recovery partner can make the difference between getting ignored endlessly and getting paid.

Direct Collection Bailiffs Ltd DCBL offer a highly successful commercial debt recovery service. Our priority is collecting overdue invoices for clients whilst operating professionally and ethically, working with debtors to come to a reasonable arrangement for repayment. This approach has paid dividends for our clients throughout the ongoing COVID crisis.

If you are one of the many businesses struggling to get invoices paid, call DCBL on 0203 298 0201 or fill in our online form for a free debt recovery consultation.

Get my free quote
DR - Get a free quote

Related articles

Successful Debt Recovery Case - Success Story - Luxury Destination Wedding PLanner

7th August 2020

Successful Debt Recovery Case: Luxury Destination Wedding Planner

NewsSuccess Story

About the case Client: Wedding Planner Debt Type: Unpaid costs to suppliers for a cancelled wedding abroad Debt Amount: Over £100,000 Result: £75,000 collected without the need for court action, remainder pursued by DCB … Continued

Read Article
Frustrated Woman, Can a Debt Collection Agency Help?

2nd July 2020

Can A Debt Collection Agency Help in My Situation?

Debt RecoveryNews

There are all sorts of reasons you could find yourself owed money. Debt Collection Agency Help. Over the years, we have heard stories and helped clients in almost any situation … Continued

Read Article
Business Owed Money

1st February 2020

Businesses Owed Unpaid Invoices: Nearly £150k Due for 90%

Industry NewsNews

Businesses Owed Unpaid Invoices – Nine in ten UK companies are waiting to be paid an average of £148,917 in outstanding invoices. 81% of businesses are now waiting between 14 … Continued

Read Article