New laws to help business recover unpaid bills across borders were demanded by European Union Members of Parliament yesterday.
A hearing in Brussels heard how red tape is hampering EU firms chasing outstanding invoices in another member country.
The European single market has opened up opportunities for easier cross-border trade and enterprise ? but the barriers seem go back up when suppliers default on payments, said Labour?s North West MEP Arlene McCarthy.
?Nine thousand EU businesses have serious concerns about late payments. There are differences in legal regulations in different countries and this problem has the most severe effects on small businesses that have a smaller cash reserve.
?We want to bring in legislation that will lake it easier for businesses to demand payments from customers in other countries.”
For this complete story, please visit Businesses Push for More Debt Collection Friendly Laws in Europe.
