l{"id":1260416,"date":"2023-08-08T23:17:10","date_gmt":"2023-08-08T22:17:10","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/amazon-firms-facing-collapse-as-us-tech-giant-warns-it-will-hold-back-their-proceeds-for-weeks\/"},"modified":"2023-08-08T23:17:10","modified_gmt":"2023-08-08T22:17:10","slug":"amazon-firms-facing-collapse-as-us-tech-giant-warns-it-will-hold-back-their-proceeds-for-weeks","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/amazon-firms-facing-collapse-as-us-tech-giant-warns-it-will-hold-back-their-proceeds-for-weeks\/","title":{"rendered":"Amazon firms facing collapse as US tech giant warns it will hold back their proceeds for weeks"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"js-article-text\" wp_automatic_readability=\"66.646090534979\">\n<h2>Amazon firms facing collapse as US tech giant warns it will hold back their proceeds for weeks<\/h2>\n<p class=\"author-section byline-plain\">By <a href=\"https:\/\/www.dailymail.co.uk\/home\/search.html?s=&amp;authornamef=Emily+Hawkins\" class=\"author\">Emily Hawkins<\/a> <\/p>\n<p class=\"byline-section\"><span class=\"article-timestamp article-timestamp-updated\"> <span class=\"article-timestamp-label\">Updated:<\/span> <time datetime=\"2023-08-08T23:17:10+0100\"> 23:17 BST, 8 August 2023 <\/time> <\/span> <\/p>\n<p> <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/dk\/money\/moneymarkets\/article\/other\/para_top.html --> <!-- CWV --><!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-async-bundle\/7.1.6\/articleDefer.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--> <!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/registration--.css\" media=\"screen\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.0\/registration--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all1-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-sync-bundle\/9.4.0\/desktop.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.1\/all--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.1\/all1--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if gte IE 8]><!--> <link rel=\"stylesheet\" type=\"text\/css\" media=\"screen\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-fff\/2.4.1\/styles\/fff.css\" \/> <!--<![endif]-->  <!--[if IE 8]>\n\n<![endif]--> <!--[if IE 9]>\n\n<![endif]--> <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->  <!--<![endif]--><\/p>\n<p>   <!-- SiteCatalyst code version: H.20.3.\n    Copyright 1997-2009 Omniture, Inc. More info available at\n    http:\/\/www.omniture.com -->  <\/p>\n<p>         <!-- End SiteCatalyst code version: H.20.3. -->  <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->   <!--<![endif]--><!--[if IE]>\n  \n  <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/gunther-2159\/video_bundle--.css\"><\/noscript>\n  \n<![endif]--> <!--[if !IE]> --> <link rel=\"preload\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/7.2.0\/styles\/mol-fe-videoplayer.min.css\" as=\"style\" onload=\"this.rel=\" stylesheet=\"\" \/> <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/7.2.0\/styles\/mol-fe-videoplayer.min.css\" \/><\/noscript>  <!-- <![endif]-->   <!-- CWV --><\/p>\n<div itemprop=\"articleBody\" wp_automatic_readability=\"34.427308447937\">\n<p class=\"mol-para-with-font\">Amazon has been accused of pushing small businesses to the edge of collapse after warning it would hold onto thousands of sellers\u2019 cash temporarily.<\/p>\n<p class=\"mol-para-with-font\">The US tech giant told small firms using its platform in the UK and continental Europe that it will withhold their sale proceeds for over a week, triggering fears businesses will not have the cash to keep going.<\/p>\n<p class=\"mol-para-with-font\">Just days earlier, rival Etsy was forced to U-turn amid threats of a boycott from UK vendors after holding onto 75 per cent of some sellers\u2019 takings for more than a month.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Now, Amazon has told sellers it will not credit their accounts immediately when they make a sale, but they will have to wait around a week after a product has been delivered.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\" wp_automatic_readability=\"8\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img loading=\"lazy\" decoding=\"async\" id=\"i-869296a97afbaf01\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/08\/Amazon-firms-facing-collapse-as-US-tech-giant-warns-it.jpg\" height=\"425\" width=\"634\" alt=\"Cash grab: Amazon\u00a0told small business owners they \u2018may experience a one-time cashflow disruption\u2019\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/> <\/div>\n<p> <noscript> <img loading=\"lazy\" decoding=\"async\" id=\"i-869296a97afbaf01\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/08\/Amazon-firms-facing-collapse-as-US-tech-giant-warns-it.jpg\" height=\"425\" width=\"634\" alt=\"Cash grab: Amazon\u00a0told small business owners they \u2018may experience a one-time cashflow disruption\u2019\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">Cash grab: Amazon\u00a0told small business owners they \u2018may experience a one-time cashflow disruption\u2019<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">The tech titan told small business owners they \u2018may experience a one-time cashflow disruption\u2019.\u00a0<\/p>\n<p class=\"mol-para-with-font\">But sellers and the Government\u2019s small business czar said this was just long enough to bring a firm to its knees, especially given painful inflationary pressures.<\/p>\n<p class=\"mol-para-with-font\">Small business commissioner, Liz Barclay, said: \u2018A small business can easily go to the wall if owed \u00a3100 for a week.\u2019<\/p>\n<p class=\"mol-para-with-font\">Without cash on reserve to tide themselves over the fortnight gap, business-owners will be forced to borrow or miss bill payments.<\/p>\n<p class=\"mol-para-with-font\">Amazon said around 15 per cent, or 33,750 of the 225,000 smaller sized firms using its marketplace in Europe, could be impacted by the situation.<\/p>\n<p class=\"mol-para-with-font\">A spokesman for the tech giant said: \u2018This policy was introduced in August 2016, and there will be no impact for over 85 per cent of sellers in Europe.<\/p>\n<\/div>\n<p>            <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/dk\/money\/moneymarkets\/article\/other\/inread_player.html --><\/p>\n<div class=\"column-content cleared\">\n<div class=\"shareArticles\">\n<h3 class=\"social-links-title\">Share or comment on this article:<br \/>\n                        <\/h3>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"mol-style-italic byline-section justify\">Some links in this article may be affiliate links. 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The US tech giant told [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1260419,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1260416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon firms facing collapse as US tech giant warns it will hold back their proceeds for weeks - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12386815\/Amazon-firms-facing-collapse-tech-giant-warns-hold-proceeds-weeks.html?ns_mchannel=rss&ns_campaign=1490&ito=1490\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon firms facing collapse as US tech giant warns it will hold back their proceeds for weeks - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"Amazon firms facing collapse as US tech giant warns it will hold back their proceeds for weeks By Emily Hawkins Updated: 23:17 BST, 8 August 2023 Amazon has been accused of pushing small businesses to the edge of collapse after warning it would hold onto thousands of sellers\u2019 cash temporarily. 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