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Suzanne Townley

News Editor, Solicitors Journal

Late payment stress

Late payment stress


83 per cent of legal businesses surveyed reported stress, anxiety and/or depression related to late payments.

A survey conducted by digital payments platform Juno has shown a late payment crisis is crippling small businesses. The survey of 500 self-employed people in the UK, showed those working in legal, manufacturing and retail sectors were most impacted by stress, anxiety and depression. 83 per cent of legal businesses surveyed reported suffering from stress, anxiety and/or depression as a result of cash flow issues caused by late payments. A further 20 per cent of businesses said they were at risk of bankruptcy or business closure.