Small and medium-size enterprises (SMEs) are essential to the UK economy, employing 60% of the working population and accounting for 47% of turnover. But despite their importance, data from the Office of National Statistics suggests that every year 9%-12% of SMEs cease trading. This is perhaps not too surprising when there is currently over £40 billion in outstanding payments owed to UK companies.
The PACT Scheme is a solution for preventing late-payments becoming non-payments, improving your cash flow, and maintaining your important professional relationships. The scheme gives small business owners complete power, allowing you to decide exactly when to upload details of an overdue invoice – the rest is up to us!
“The repercussions we’ve created are genuine and powerful, but we actually see them as a last resort. We have developed PACT as a preventative tool, and believe that simply adding our logo to your invoices will get you paid quicker. PACT allows you to maintain your vital relationships whilst subtly demonstrating that you have powerful credit control tools at your disposal, should you decide it’s necessary to use them.” Chris Hawthorn, Managing Director of PACT Scheme
Set-up only takes two minutes. Cancel anytime. No hidden charges
Sign up to PACT Scheme now for your cash flow insurance policy and online credit control department.