Payments and Collections

Guess Which Mega Brand Makes Companies Wait 86 Days for Payments (Infographic)

Guess Which Mega Brand Makes Companies Wait 86 Days for Payments (Infographic)
Image credit: StockSnap.io
Guest Writer
CEO and Founder of Fundbox
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Late payments, which lead to cash-flow gaps, is one of the biggest pain points facing small businesses today. It is mission critical for businesses to remain cash-flow positive so they can address key day-to-day operational needs, including payroll, rent or purchasing of inventory and supplies.    

At Fundbox, we analyzed 20 million invoices on our platform to better understand how and when small businesses get paid. The below infographic highlights the systemic problem of late payments and industries most affected. We also uncovered several Fortune 100 corporations who have long payment terms for their small-business vendors.

Related: 10 Ways to Avoid the 'Elephant in the Room': Not Getting Paid

Click to Enlarge+
late payment - invoice (Infographic)

 

Related: 12 Billing Mistakes That Make It Harder for Your Business to Get Paid

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