Insurers and brokers may be facing a cash crisis, according to exclusive research by Zurich UK Commercial and Insurance Times.
Small and medium-sized businesses (SMEs) are increasingly worried that customers will not pay their bills, the survey of 300 SMEs reveals. There has been a 72% increase in concern over late payment compared to last year's survey.
SMEs are also concerned that internet developments will pass them by. There has been a 36% increase in concern regarding the impact of the internet on non-users. Only 32% of SMEs questioned said the internet had made an impact on their businesses. Small businesses are less worried about health and safety legislation than they were last year, the survey said. It revealed there has been a 30% decrease in concern in this area.
More than 80% of SMEs said their markets are more competitive this year than last.
