Complaints raised by small business owners to the FSB include: suppliers failing to make auto-rollover clauses clear up front; tying businesses into lengthy notice periods; charging high early termination fees, and concealing details in small print.
One in ten small businesses affected by unfair terms were set back by more than GBP 5,000 dealing with a single problem. Two in five lost more than GBP 1,000 through an unfair agreement with a supplier.
Smaller firms were found to wait almost double the length of time as their larger counterparts, research from the Asset Based Finance Association showed.
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