Government Urged to Take ‘Tough Action’ on Late Payments

A report published by the Business, Energy and Industrial Strategy (BEIS) Committee recently highlighted how 'bad payment practices' have led to the 'failure' of many small and medium-sized enterprises (SMEs). The government's Prompt Payment Code, which was created to address poor payment practices, has 'too often' been 'ineffective', according to the Committee. A 'statutory requirement' … Continue reading Government Urged to Take ‘Tough Action’ on Late Payments

Handling Late Payments

With government research indicating that one third of payments to small businesses are late, we take a look at the latest initiatives designed to encourage prompt payment. The Small Business Commissioner The government estimates that 20% of small businesses in the UK have encountered cashflow issues as a direct result of late payments. Were small … Continue reading Handling Late Payments