FreeAgent Launches New Features to Help You Get Paid Faster

Accounting software makers FreeAgent has launched a trio of new features, making it even easier for self-employed workers and small business owners to get paid faster.
Late payments are a scourge on the self-employed and small business community. Research from Bacs* suggests that late payers cost SMEs up to £23.4bn every year, which is not to mention the unnecessary stress and anxiety caused to millions of the UK’s smallest businesses.

2% of small business owners have faith in late payments commissioner

Survey evidence has revealed that a tiny proportion of the smallest UK businesses believe that the newly appointed Small Business Commissioner will tackle the late payment crisis.
Research from cloud accounting software company FreeAgent shows that just 2% of UK microbusinesses believe that the new Commissioner, Paul Uppal, will take the challenge ‘seriously’.
Other research from the company shows the scale of the problem.

Micro-businesses each lose nearly £2k per year in unpaid invoices

Non-payment of invoices is a huge problem for the nation’s freelancers, contractors and micro-businesses, according to new evidence from cloud-based contractor accountancy software company FreeAgent.
Micro-business owners will likely know the frustration of late or non-payment of invoices, but may well have underestimated the huge costs associated with writing off unpaid bills.

Calls to tackle late payments after Carillion crisis

The collapse of the UK’s second largest construction company has, once again, brought late payments to the top of the national news schedule.

In the wake of Carillion’s liquidation, many small firms have been left in an uncertain position – unsure if they will be paid what they are owed.

For some firms, the problem has been compounded by the Carillion group’s punishing 120-day maximum payment terms.

Freelancers reveal the negative side of self-employment

Generally speaking, freelancers love freelancing. The freedom and control that freelancing brings is precious for hundreds of thousands of independent British workers, but at the same time it can be a very difficult job.
The common misconception that freelancers pop out for coffee whenever they like and still earn fistfuls of cash isn’t true for most people.
With the ‘gig economy’ under review and the government eyeing the flexible sector for a tax cash grab, some freelancers have revealed the dark and dirty side of self-employment.
Physical, emotional and financial tolls are all part of daily life for freelancers, but there are things that can be done to soften the hardship.