Small businesses in Singapore spend more time chasing overdue payments than any other task: Xero

SINGAPORE (Dec 5): The two biggest productivity drains that small business owners in Singapore face are chasing overdue invoices and being paid late, according to research from Xero, a global leader in online accounting software.

Xero’s research identifies key obstacles to growth and highlights the importance of finding solutions for Singapore’s small businesses, which the government calls “the heart of Singapore’s economy.”

On average, the small businesses spend 25 days or five work weeks every year just chasing overdue invoices. This is more time than they spend on any other single task.

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