SME mental health affected by late payment
Almost four in 10 small and medium-sized businesses have said they are encountering mental health issues among staff as a result of unfair payment practices, according to a new survey.
The findings of a YouGov survey commissioned by ECA and BESA, on the links between mental health and late payment, was reported by ITV News and several other outlets today.
The poll also showed that 37% of SMEs across all industries highlighted that delays to settling invoices for monies owed to them were affecting how owners and employees were coping. It reported that 14% of respondents suffered from depression, 9% from extreme anger and 3% from suicidal feelings, as a direct result of late or unfair payment.
Rob Driscoll, director of legal and business at ECA, said: “These shocking new findings show how late and unfair payment is causing a wave of mental health issues right across the economy and society.
“With mental health now rightly in the spotlight, it’s beyond the pale that large businesses continue to impose such issues on SMEs across industry.”