Published by Zeb BhamA growing number of small businesses are coming under strain due to an increase in late payments, the Federation of Small Businesses (FSB) has revealed.In a survey carried out by the organisation, more than half of the 100 businesses questioned said they had seen an increase in late payments, while 43 per cent said they had seen a decline in trade.Looking ahead to the new year, a third of respondents said they were worried about business prospects for the next six months.Commenting on the figures, John Wright, national chairman at the FSB, said: "Cash-flow is vital for the survival of a small business and the lethal cocktail of a continued decrease in trade and increase in costs could have a devastating impact on the construction sector."The FSB recently welcomed the announcement that the government would be scrapping the planned rise in corporation tax for small businesses, but called for swift action to help firms recruit staff.For firms working with overseas suppliers, choosing the right foreign currency strategy could help to significantly reduce international business payments in real terms.For more information on international payments, visit our Smart FX site