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Research by commercial credit agency, Graydon UK , has revealed that almost two thirds of SME’s supplying government departments are forced to wait over 30 days for invoices to be settled, despite pledges by business secretary Lord Mandelson to pay them within 10 days.

Lord Mandelson’s pledge, aimed at easing the cash-flow burden of late payments, has done little to alter the reality for SME’s providing government departments.

The impact of delays such as these will do little to promote growth amongst SME’s due to the stifling effect of restricted funds. But budgeting and preparing for such delays remains an important consideration for SME’s.

One solution to such problems that appears to be growing in popularity is the use of serviced office space. By removing the financial burden of lengthy property leases, along with the running costs associated with them, businesses are able to reduce their overheads and tailor their workspace in a more efficient way. By entering serviced office space more and more SME’s have found themselves with a healthier cash-flow and greater flexibility in their activities.

Of course serviced office space is not the answer for all SME’s, but it is certainly worth exploring to see if it can offer savings to your business. For those wishing to explore this option, officebroker.com would certainly be a great place to start. Working with over 95% of serviced office providers worldwide, officebroker.com helps to guide business owners through the process of securing serviced office space, whether it is for relocation or a start-up. Visit www.officebroker.com to learn more.

officebroker.com

Published by Simon on Wednesday, 20 January 2010 at 5:18 PM