Help to crack problem of late payment

Local MP, Andrew George, is urging local businesses to report any problems they experience with late payments.

The Government recently launched a campaign “Business in You” to encourage larger businesses to adopt a Prompt Payment Code. One of the biggest problems facing smaller businesses which supply larger corporations is having to endure late payment.

Mr George said: “Late payments have contributed to business closure and job losses. I welcome the Government’s campaign and that Government Departments are leading by example.

“I want to hear from any local businesses which still suffers the problem of late payment.”

Mr George chairs the national Grocery Market Action Group which has successfully campaigned to get the Competition Commission to introduce new rules to stop larger supermarkets from using bully-boy tactics with their suppliers, including late (90 day or more) payment terms.

Government departments have also adopted the Prompt Payment Code and are working to improve performance across the whole of Government. Last year the Department of Business, Innovation and Skills achieved 95% payments within 5 days.

A thousand businesses have already registered for the Prompt Payment Code and further information is available from http://www.promptpaymentcode.org.uk

The Institute of Credit Management is also promoting a range of practical business tools online and this is available at http://www.creditmanagement.org.uk/bisguides and offering mentors to support businesses.

Get the latest news from Andrew George straight to your inbox

* indicates required


Please tick to receive most relevant newsletter/s

Posted in Andrew George MP
  • Rochester & Strood by-election: Ukip win, Lib Dems lose 11th deposit November 21, 2014
    Mark Reckless won his bid to be re-elected an MP under the UKIP banner last night, following his eve-of-conference defection from the Conservatives. That this wasn’t at all a surprise — the swing from the Tories to UKIP was 28% — says something about the febrile dynamics of politics at the moment. Support for Labour […]
    Stephen Tall
  • Three thoughts this Transgender Day of Remembrance November 20, 2014
    Today is the Transgender Day of Remembrance, a day to pause and think of all those transgender people who have lost their lives just for being who they are across the world. I read the list of people who are being remembered in 2014 and it’s pretty harrowing to think of all those young lives […]
    Caron Lindsay