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5 things the incoming Small Business Commissioner should consider in the fight against slow payments
Originally posted in FinExtra Liz Barclay’s appointment as Small Business Commissioner was the latest development that reflected the UK’s longstanding and worsening slow payments…
30 days is still 30 days too long for Britain’s suppliers in the wait to be paid
On Monday, the government announced it was strengthening the Prompt Payment Code (PPC), mandating that its signatories must pay suppliers within 30 days, rather than the previous 60.
While this is a welcome step in the right direction, there is still a long way to go in addressing the chronic issue of slow payments. A 30-day payment period is still 30 days too long for many small businesses struggling to stay afloat.