Small Business Commissioner to target late payers.

Small Business Commissioner to target late payers.

cpa.co.uk/small-business-commissioner-target-late-payers/

Liz Barclay, the former BBC journalist who will become Small Business Commissioner in June, will target late payers and lead a Government drive to end the "toxic" blight of late payments to small businesses. She said this will help “take pressure off our phenomenal entrepreneurs", arguing that small businesses have "to be able to turn their attention to their next client and next order rather than chasing up late payments and worrying about their cash flow".

Small Business Minister Paul Scully commented: "Having run small businesses for most of my professional life I know just how toxic delayed invoices can be."

What that will mean in concrete terms is less clear though. Successive Governments have made promises to tackle late payments but nothing much changes.

CPA through its late payment compensation recoveries team already has a scheme to use current legislation to target late payers by hitting late payers in the pocket. Only by making it clear to late payers that it comes with a cost and is not free cash flow, will late payers be encouraged to change their practices.

CPA has been helping SMEs claim late payment compensation from former customers who paid them late.

If you have been regularly paid late by business customers in the past contact us to see how you can be compensated and by doing so, also encourage those late payers to change their habits.

Call 020 8846 0000 today.