| answer text |
<p>Late payment remains an important issue for small businesses in the UK. The Government
is taking significant steps to assist small businesses to recover late payment debts.</p><p>Through
the Enterprise Bill, currently before Parliament, we will legislate to establish a
Small Business Commissioner to help small business resolve disputes with large companies,
tackling, in particular, late payment. The Commissioner will act as a disincentive
to unfavourable payment practices, and build the confidence and capabilities of small
businesses to help them to assert themselves in contractual disputes and negotiate
more effectively with larger businesses.</p><p>This is part of a package of measures
to tackle late payment. We have also legislated for new transparency measures in the
public and private sectors. This will allow full public scrutiny of payment performance.</p><p>We
have also strengthened the Prompt Payment Code to ensure it is a recognised and demonstrated
beacon of best practice, and we recently consulted on proposals to give representative
bodies wider powers to challenge grossly unfair payment practices.</p><p>Tackling
late payment is about creating a responsible payment culture where larger companies
recognise the benefit of having a sustainable and robust supply chain, and smaller
businesses feel able to challenge poor behaviour. Once implemented, the Government
is confident that these measures will lead to significant changes in the UK’s payment
culture.</p>
|
|
