Frustrated by outstanding invoices, sole trader Trevor Tierney has established a website for SMEs to 'name and shame' customers who do not pay up within agreed or standard payment terms.
Tierney says he wanted to help other businesses after his cash flow was adversely affected by constant late payments.
"60days.com" allows businesses to share information about debtors, either anonymously or otherwise, and encourages members "to promote their services on a directory, make new contacts, and discuss best practise on a forum."
Trevor Tierney explained: "Many small businesses start up each week. Unfortunately, more than 10,000 businesses cease to trade each year - primarily because of poor cash flow caused by late payments and bad debts... It is notoriously difficult and time consuming for SMEs to...