Commissioner Appointed to Tackle Late Payment

 20th December 2017.

The Government has appointed a small business commissioner dedicated to supporting the country’s 5.7 million small businesses.

The Government has appointed Paul Uppal to the role of small business commissioner, to support small firms, as well as help solve disputes around payment practice.

According to the Government, a third of payments to small businesses across the UK are late and 20 percent of small businesses have run in to cash flow problems as a result of late payments.

It said that if small businesses were paid on time, it could boost the economy by an estimated £2.5bn annually.

As well as this new appointment, the Government has launched a complaint-handling website, providing guidance to companies on payment issues and how to take action if a payment is overdue.

Margot James, small business minister, believes this new appointment will empower small businesses to take action and clamp down even harder on the problem of late payment.

 Newly appointed small business commissioner, Paul Uppal, has stated his mission is to “help all small businesses nurture positive and lasting relationships with their customers that work in the best interests of both”.Mike Cherry, chairman of the Federation of Small Businesses, has welcomed the move and will encourage small businesses to use the service.

“The small business commissioner is crucial to turning the tide on this late payments culture”, Cherry urged. “Success will be a UK economic culture where a business that does a job promptly, is paid promptly,” he added.

James Salmon for the Credit Protection Association said “At CPA we are passionate about late payment and we welcome any advance that is made to tackle the blight of late payment that strikes at SME’s in the UK. If we can tackle the late payment culture, we will set free our SME’s and allow them to thrive”

 The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

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