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Smaller firms being kept waiting for payments
24th September 2009, Page 48
24th September 2009
Page 48
Page 48, 24th September 2009
— Smaller firms being kept waiting for payments
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SMALLER FIRMS ARE waiting up to four months to be paid, according to the Federation of Small Business (FSB).
It has named some large firms, including logistics providers, that it says are extending payment periods or charging a discount for settling bills on time on its website (log on to http://bit.ly/lh6voX).
The FSB is not only calling on all companies to join the Prompt Payment Code, but also on Companies House to acquire the power to name, shame or fine those companies that are late payers.
Meanwhile, the Forum for Private Business has submitted Freedom of Information requests to all health trusts and councils in the UK. asking how long they take to pay suppliers.