The late payments issue has been growing over recent months, and with small businesses being most affected, the government has voiced its disapproval by announcing a plan of action to try and stop it.
Due to Brexit uncertainty, more companies are trying to forge better relationships with suppliers.
Numerous SMEs are susceptible to late payments, particularly from massive companies, says columnist Charlie Mullins.
By David Craik
SMEs could be in a stronger position to win lucrative public-sector contracts after a damning Parliamentary report into the ineffectiveness of large strategic suppliers.
By Staff writer
A healthy cash flow is essential for any business – timely invoicing and polite reminders aren?t always enough to ensure your customers pay for your goods or services, which can have a severe impact on your business.
The latest Prompt Payment Premier League, compiled by Creditsafe, used the average time clubs took to pay suppliers throughout the season to demonstrate which clubs are failing the small businesses in their supply chains.
By Staff writer
In the course of your everyday business interactions, you no doubt encounter friction of many kinds. Sadly, many of these interruptions are a consequence of the businesses in your supply chain making life difficult by being evasive, slow to pay or question terms and conditions of already completed work.
Philip Hammond has announced in his first Spring Statement that Britain’s next business rates revaluation will take place one year earlier than planned, in 2021.
Ahead of the chancellor’s first ever Spring Statement on 13 March, Philip Hammond has been called upon to use his speech to tackle late payment culture.
Carillion’s liquidation has highlighted just how shocking the payment procedures of corporate firms are and the risks SMEs find themselves in as a result.
