35That interpretation is supported, in the third place, by the objective of Directive 2011/7, which, according to Article 1(1) thereof, is to combat late payment in commercial transactions, in order to ensure the proper functioning of the internal market, thereby fostering the competitiveness of undertakings and in particular of small and medium-sized undertakings. Such late payment, as is apparent from recital 3 of that directive, negatively affects the liquidity of those undertakings, complicates their financial management and also affects their competitiveness and their profitability, when they need to obtain external financing because of late payment.
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