Paying small businesses promptly has been a case of smoke and mirrors for a long time, but there were signs from Tesco this month that perhaps the smog is beginning to clear a little. The groceries code adjudicator Christine Tacon oversees the relationships between the UK’s 10 biggest supermarkets and their suppliers. Earlier this year […]
Continue ReadingWith BACS reporting £31bn owed to SMEs in late payments, the cash flow impact on small businesses is surely self-evident. Now the government is suffering delayed VAT receipts. Businesses in the UK owe almost £2.6 billion to HMRC in overdue VAT as late payment from clients forces them to delay paying tax, according to leading […]
Continue ReadingThe FSB has recently written to its members drawing attention to its campaign against late payments. The text of this letter follows: Research published from the Federation of Small Businesses (FSB) makes clear the scale of the UK’s payment problem and The Federation of Small Businesses sees the Government’s proposal for a Small Business […]
Continue ReadingHost to the opening of the Tour de France in 2014, stunning castles, beautiful and serene dales, wild and windswept north Yorkshire moors, breath-taking minsters and beautiful industrial architecture with the marvellous city of Hull the UK City of Culture for 2017 – what a fantastic place to be… Unless of course you’re an SME […]
Continue ReadingThe Prime Minister has recently announced that large companies will be forced to prove what they are doing to stop slavery and trafficking in their supply chains. The new rules, which will apply to more than 12,000 firms with a turnover of £36m or more, will begin in October 2015. As part of the Modern […]
Continue ReadingBusiness minister, Anna Soubry is planning to appoint a Small Business Commissioner whose services will enable smaller firms to resolve disputes with other businesses and, in some circumstances, public bodies quickly and easily, preserving important commercial relationships and without the need to go to Court. Its key functions will be: Providing information, general advice and […]
Continue ReadingBusiness minister, Anna Soubry is no stranger to speaking her mind, rebuking Alex Salmond for his comment to her to “behave yourself woman” and amongst claims that she swore at Ed Miliband in the House of Commons, she has also given some fairly graphic descriptions of Nigel Farage… Becky Milligan, reporting from the BBC said […]
Continue ReadingAnil Stoker, CEO of Market Invoice has weighed in to the debate on the support needed to be given to SMEs struggling against slow payments from larger businesses. As Cheriton commented back in March, the first-ever Small Business Bill, the Small Business, Enterprise and Employment Act (SBEE) has been promised to enable radical action on […]
Continue ReadingThe Forum of Private Business has released a manifesto outlining what the next government should do to support small businesses. With BACS reporting that chasing late payment costs businesses £9.2bn a year, prompt payment remains top of the agenda. The Manifesto sets out measures for the start, mid-term and end of a term in Parliament, […]
Continue ReadingThe budget was followed last week by the Royal Assent for the Small Business, Enterprise and Employment (SBEE) Act. However, whether big companies take any real notice of paying SMEs on 30 day terms remains to be seen. The Act is silent on real detail. John Allan, national chairman of the Federation of Small Businesses […]
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