18,000 CONTRACTORS AND SUB-CONTRACTORS PAID LATE

  • Admin

  • 15 Mar, 2019

A major campaign has been launched to end the scourge of payments which is jeopardising the livelihood of many small businesses. The Lancashire-headquartered Federation of Small Businesses has launched its Fair Pay, Fair Play campaign calling on the Government to take action. And it has gained the full backing of the British Chambers of Commerce. The FSB is urging politicians and big business to end late payments and stop supply chain bullying. Ahead of the Spring Statement next month, the FSB campaign calls on Government to enlist the help of non-executive directors, strengthen payment enforcement and adopt Project Bank Accounts in public procurement, as three key reforms that will help end the poor payment crisis in the UK. FSB national chairman Mike Cherry, said: “For far too long some big businesses have been allowed to get away with poor behaviour that has seen them use their dominant position to bully and squeeze our small firms. “This behaviour has forced many small businesses to take drastic steps like turning to personal credit cards and overdrafts, just to survive the wait for a payment. “Sadly, some don’t survive this wait.”

Source: https://www.lep.co.uk/news/end-the-scourge-of-late-payments-which-is-hurting-business-in-lancashire-1-9603122

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