Prompt Payment to Suppliers
General information and resources
Prompt Payment Code | Small Business Commissioner
Apply to become a signatory of the Prompt Payment Code, and see other signatories on the government website here.
Mental health cost of late payments | pay.uk
Research published by Pay.UK in Jan 2020, shows more than a quarter (26 per cent) of SME business owners stress about late payments even when they are not at work; 17 per cent say that payment delays undermine their own confidence in their ability to run a business and 16 per cent worry about the issue every working day.
Government tackles late payments to small firms to protect jobs | Gov.uk
January 2021 press release discussing reforms to the Prompt Payment Code, encouraging companies to stand by smaller suppliers.
Examples from GBC Accredited Organisations
Why won’t bigger businesses pay their smaller suppliers quicker? | TSB
TSB article on the importance of paying suppliers on time.
The importance of paying suppliers on time | Bellevue Law | LinkedIn
Founder of Bellevue Law, Florence Brocklesby: “Big companies: if you want to do your bit in the cost of living crisis, pay your suppliers on time.”