Published by Mark Smith-HalvorsenCorporations, including those making use of foreign exchange management services, may find they are among the organisations that wish to take action to minimise the damage caused by late payments.The Federation of Small Businesses' (FSB) national chairman John Walker stated in the current economic climate it can prove more important than ever for companies to ensure they receive funds owed on time."We need to see all businesses ensuring that they make payments on time if the private sector is to get on with the job in hand of strengthening the recovery," he said.His comments follow a report from the FSB indicating that in the last 12 months, 73 per cent of firms have been hit by late payments, while 43 per cent admitted they are currently waiting for funds of up to £4,999 to be transferred.The FSB states it operates across 33 regions, has 194 branches and 200,000 members.For more information on international payments, visit our Smart FX site