Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 139549467
iStock 139549467


  • Over a fifth of small businesses state cash flow and late payments as their biggest financial challenge for 2022. 
  • More than a quarter of SMEs are worried about Brexit impacting their cash flow.  
  • One in four small business owners are worried about their lack of knowledge of invoicing and tax. 

24th February 2022: Cash flow and late payments are the biggest financial concern for over a fifth (22%) of small business owners in the UK this year as one in four (25%) state they are constantly chasing late payment, according to a new report.  

The annual 2022 business challenges report carried out by card payments specialist takepayments Limited, surveyed SME business owners and decision-makers across the UK to discover the current small business landscape for the year ahead. 

Late payments ultimately lead to a worrying impact on small businesses cash flow according to one in four (25%) SME’s surveyed, so it’s no surprise it’s a top concern for small business owners that are already faced with the financial challenges of the ongoing cost of living crisis.

SME’s within the IT (32%) and leisure, sport and tourism (31%) sector are the businesses that are most concerned when it comes to the impact late payments has on their cashflow.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

The Brexit aftermath continues to be felt amongst small businesses, even over a year on as more than a quarter (28%) expressed their concern on how it will affect their cashflow this year.  The report also uncovered widespread concern on lack of knowledge on invoicing and tax, as one in four (25%) small business owners state this as their biggest financial challenge for the year ahead.  

This comes as almost a third (32%) of small business owners and senior leaders state they have limited knowledge on invoicing and over a fifth (21%) state they are self-taught when it comes to taxes and invoicing.  Overall, one in ten (9%) businesses say financial challenges will be their biggest concern for the year ahead, a 6% decrease from last year. This comes as February 2022 sees the end of all remaining COVID restrictions in the UK.  

Sandra Rowley at takepayments limited said“The past few years have been difficult for business owners across the country. Faced with a mix of Brexit, COVID restrictions and lockdowns, staff and supply issues and now the cost of living crisis, it’s astonishing to see that one in four small businesses state they are constantly chasing late payments.

Not only do late payments have a worrying financial impact on small businesses, but it is also time-consuming. A steady cashflow is imperative to small businesses who are already feeling the pinch, to ensure they can pay their bills, continue providing their service and ultimately survive these financially pressing times.”  

The full findings of the takepayments Business Challenges Report 2022 is available to view here.  

Recent Post: