As the UK’s small business commissioner, I’m passionate about opening up the conversation about SMEs and the late payments issues that are ravaging businesses across the country. My advice to SME owners is to speak up if you’ve been affected by late payments, and we, the government will do all in our power to help you. I’ve already made a start by calling out high-street giant Holland & Barrett for not paying their small suppliers on time.
The effects of slow payments include damage to the supply chain, damage to business reputation and, in some cases, it can even affect credit ratings and therefore future access to funding.
If you’ve been thinking of getting a new role, then why not apply for small business commissioner – a title which will have you focus on tackling late payment.
David Vine, UK SMB MD for Concur, gives his thoughts on the government's new small business commissioner – detailing what kind of powers they should have and why clout and determination are key.
On the day the government’s Enterprise Bill is published, minister for small business Anna Soubry told Real Business that she is after an open dialogue with company leaders throughout the UK to find out what is making their lives painful.