Without doubt, one of the most frustrating things about running a business is dealing with late payments.
Only yesterday, the government announced that businesses signed up to the Prompt Payment Code should pay suppliers within 30 days, or 60 at the latest. But it's already hit its first hurdle.
Business minister Matthew Hancock has today put his foot down on poor payment practices. The new government-backed Prompt Payment Code is to set out new practices for businesses to follow when dealing with suppliers.
Vince Cable, the business secretary, will today announce plans to tackle late payments to UK businesses.
More than five in 10 SMEs were paid beyond the agreed payment data by large companies in 2013.