Companies 'waiting longer to be paid'

MORE than a third of businesses say customers are taking longer to pay invoices than a year ago.

A survey of 300 businesses by Bibby Financial Services showed manufacturing and construction firms had to wait the longest. One in five had to chase some invoices at least three times. Edward Rimmer, of Bibby, said: "Firms are fighting for survival, with sustaining a healthy cashflow one of the biggest challenges."