About the Author: Kris Broda

Krzysztof Broda Landscape resized 1 e1602958114836
As the co-founder of brodmin, Kris has more than 10 years’ experience in Trust, Fiduciary and Corporate services industry. He worked at UBS as Senior Compliance Associate and shortly moved to assist HSBC with a new project as KYC Analyst. Follow him on @realbrodmin and LinkedIn

8 Comments

  1. Avatar of Daniel
    Daniel 16/01/2021 at 15:52 - Reply

    I feel it will take serious work and time to change this and get businesses to understand they need to respect the rules of the game. I hope that your late payer’s directory will help nudge them in the right direction.

    • Krzysztof Broda Landscape resized 1 e1602958114836
      Kris Broda 17/01/2021 at 10:23 - Reply

      Thanks, Daniel. So true, it will be a lot of work convincing every business to pay on time and it will take years. By reporting them online for everyone to see, we could achieve that goal much faster. Stay safe.

  2. Avatar of Eva
    Eva 19/01/2021 at 16:10 - Reply

    This recent increase in late payments is mostly because of the COVID pandemic that has hit many businesses (especially smaller ones) so hard. For some, it has been very, very difficult to survive these last 18 months.

    • Krzysztof Broda Landscape resized 1 e1602958114836
      Kris Broda 20/01/2021 at 10:53 - Reply

      Hi Eva,

      You can track how the pandemic has impacted late payments on this website https://invoice-tracker.sidetrade.com/. Hope that you are doing well during this pandemic.

    • Avatar of Anthony
      Anthony 22/01/2021 at 09:55 - Reply

      Yes, this is surely related and at the same time, being late with a payment is unfortunately considered “normal” by some business owners. While there are owners that absolutely hate being late and would never allow it there are also others that don’t care that much about it. It’s just like in life: some people will always pay on time and others might always be late. And there’s also some that are mostly on time but may encounter problems from time to time. The business world is just a reflection of us, as a society.

  3. Avatar of Kevin
    Kevin 19/01/2021 at 19:00 - Reply

    The biggest problem is how to separate work and home. So many of us (myself included) have serious difficulties in leaving our work related problems past the door to our house. I experienced that a client can’t pay me because they are awaiting payment from one of their own suppliers. I’ve had this happen again and again. Most of my clients are honest, hard working people and I trust them so I will bear with them. This is a time when we need to stick together and help each other out as much as possible.

    • Krzysztof Broda Landscape resized 1 e1602958114836
      Kris Broda 20/01/2021 at 11:05 - Reply

      Hi Kevin,

      As you’ve experienced yourself, late payments affect the whole supply chain. That is why it is important that everyone gets paid on time. Keep up the good will!

  4. Avatar of Laura P.
    Laura P. 24/01/2021 at 11:50 - Reply

    It’s so sad and disheartening to hear so many small business owners are contemplating and even committing suicide :(

    It’s horrible to have the stress of having to pay your employees, your taxes and trying to stay afloat when something like this pandemic happens. It can seem impossible but I think there are always solutions to be tried. Suicide should never be an option.

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