Cashflow continues to be a significant concern for a large number of UK CFOs, with slow payment by customers now one of the key challenges they face, according to research by recruitment specialists Robert Half.
Its survey of finance directors across the UK found that 41% identified cashflow as one of their biggest internal concerns, rising to 46% for small and private companies. CFOs based in the North and Scotland (48%) were significantly more worried that their counterparts in London and the south east (37%).
Slow paying customers topped the list of critical factors for concern, cited by 61% of CFOs, up from 26% in 2011. Late payments were a particular concern for CFOs in the North and Scotland, mentioned by 71%. Other issues were customer/client insolvencies (45%), competitive pricing/low margins (41%), higher business expenditures (40%), lower revenue (38%) and higher taxes (26%).
Phil Sheridan, managing director, Robert Half UK said: 'Cashflow clearly remains a priority for finance leaders, particularly small and private companies who rely heavily on liquid capital to keep business running as usual.'