4th April 2017 – James Salmon.
Prompt Payment Code is having a “real material effect”
says Margot James, Small Business Minister
In a speech at Credit Week, Small Business Minister, Margot James MP explained the “real material effect” that the Prompt Payment Code (PPC) is having.
“Signatories to the Prompt Payment Code pledge to keep to the highest standards, a commitment which is integral to driving the change in UK payment culture that we want to see,” she said.
“We are a nation of small businesses,” the Minister continued. “There are 5.5 million at the latest count, and you in the credit industry have all played a big part in helping many of them to grow and thrive. That’s the strength of good credit policy and of a reliable credit industry.”
The event was organised by Credit Strategy and officially supported by the CICM, the world’s largest recognised body for credit professionals. Credit Week included a multiple events including conferences, meetings, industry networking events and debates.
Philip King, Chief Executive of the CICM, praised the success of the first Credit Week in helping to promote the importance of best practice credit management and credit professionals.
Mr King, Chair of the Trade Credit and Credit Risk streams at the Credit Summit, hailed the Week as a great success: “In the credit industry, we are passionate about supporting the growth of businesses and the economy through healthier cashflows.
“The week has helped to emphasise that the principles behind supplying credit, whether to businesses or consumers, are essentially no different,” he added. “Professional credit management, acting responsibly, and treating customers fairly are fundamental to achieving better outcomes for all.”
The Credit Protection Association fervently believes in Prompt Payment and advocates this via our website http://payontime.co.uk/.
If you have problems with late payment – please contact us on 020 8846 0000 or at info@cpa.co.uk.
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