FSB has teamed up with the Chartered Institute of Credit Management to help small businesses manage their cash flow through Brexit.
The guide is a useful tool for SMEs trying to navigate the uncertainty created since the referendum held in 2016.
Mike Cherry, FSB National Chairman added: “Our research shows that the average value of each late payment to small businesses stands at £6,142, mainly due to the failure of larger companies to pay on time.
"FSB further calculates that if all payments were made on time, 50,000 more businesses could be kept open whilst the UK economy would receive a £2.5 billion boost.
“We are now working closely with the Government to ensure its proposed corporate governance reforms ensure that supplier interests are represented at the board level in large firms.
"We’re also delighted to work with CICM to produce this helpful guide for small businesses, so they understand current measures available to help them ensure they receive payments on time.”