The SME finance provider is urging businesses to take action now and chase outstanding invoices to improve their cash flow and ensure they are paid on time this Christmas.
Nucleus’s research has found that 21% of businesses are already chasing their debtors.
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Chirag Shah, CEO at Nucleus Commercial Finance, said it knew the issue of late payments was a challenge faced by too many SMEs every day.
“However, the extended closure of so many businesses over the festive period worsens the problem and for some businesses puts them into real financial difficulty whilst they wait for debtors to reopen and settle their bills.
“Businesses can take action now by speaking to their debtors and encouraging them to settle their bills before they close for Christmas.”