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Letting invoices go unpaid has a significant mental toll on small business owners, according to a new survey that ties late payments to soaring stress levels.
New data from payments processing firm GoCardless frames the late payment epidemic as not just a financial hassle, but a significant contributor to stress and discomfort among small business operators.
More than a quarter of Australian businesses (27%) said they lose up to $6,000 a year due to late payments, with 11% declaring losses of between $12,001 and $30,000.
Those figures, drawn from a survey of 515 small business decision-makers, reflect the long-established relationship between cashflow and business viability.
ABOUT THE AUTHOR
Senior Business Journalist
David Adams is a senior business journalist at SmartCompany. He is interested in the challenges and opportunities facing Australian businesses, along with the influences of technology, culture, and a changing climate. Before SmartCompany, David served as a reporter for Business Insider Australia. You can find him on Twitter at @DavidAdams_AU.
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