Business Secretary Grant Shapps has announced a comprehensive review into tackling late payments for small businesses, while urging large companies to pay their smaller suppliers promptly.
Small businesses routinely spend significant time and resources chasing late payments from businesses they supply to, which can lead to cash flow problems, putting their firms at risk and preventing them from growing.
Business Secretary Grant Shapps has announced an in-depth review into payment practices to ensure small businesses across the UK receive the payments they deserve, with £23.4 billion currently owed in outstanding invoices.
More information including the terms of reference for the review on the GOV.UK website
