We are a social movement that will bring the issue of unfair slow and late payments for SMEs to the top of the national agenda, encouraging supporters from right across the business community and the whole country to campaign for change.
Barclays
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Mastercard
Natwest Group
FSB
Institute of Directors
Make UK
CBI
British Chambers of Commerce
Small Business Commissioner
IPSE
Small Business Britain
Enterprise Nation
Chartered Institute of Credit Management
Chartered Institute of Procurement & Supply
National Enterprise Network
UK Finance
Accounts Payable Association
Strive
Purchase To Pay Network
NED on Board
Forum Of Private Business
Alliance Of Independent Agencies
British Travel Association
Businesses, banks, advisors, civil society, academia, trade bodies and policy makers.
FSB’s mission is to help smaller businesses achieve their ambitions. They work tirelessly to protect and promote the interests of the UK’s 5.8 million self-employed individuals and small businesses. By providing benefits, advice and a powerful voice heard in government, they have been instrumental in stopping the scourge of late payments and strongly believe that everyone deserves to be paid on time.
“We’re proud to be the first large company to sign-up to the Good Business Pays campaign. SMEs are the engine of our economy, as we look to build back better post-pandemic it’s critically important they can be paid when they need it to manage cash flow. At Mastercard we are not only committed to paying our own suppliers promptly, but also developing flexible solutions for businesses to pay and be paid.”
“As the largest supporter of UK businesses, we understand the difference that prompt payment makes to businesses throughout the supply chain which is why we are supporting the Good Business Pays campaign. Throughout the pandemic we have maintained immediate payment on goods and services receipt, which exceeds our commitment to the Government’s Prompt Payment code. We are proud to have been awarded the Fast Payer Accreditation by Good Business Pays for 2021, and we will continue to meet this standard as a bank that is committed to helping SMEs thrive and achieve their potential.”
“As small businesses continue to brace themselves for what is an increasingly difficult trading environment, it’s more important than ever that they have confidence in their cash flow and can depend on the businesses they supply to pay them on time. What’s more, late payments can prevent new hiring opportunities or investment back into the business. In the worst case scenarios, the business might be forced to close.
“This is why we’re proud to be joining Good Business Pays, to call on the social conscience of the worst offenders and help stamp out this poor practice. Let’s put an end to late payments and unlock the full potential of the nation’s hard working businesses.”
“Our research data shows SMBs are owed an average of £27,214 in late payments, with one in six invoices with customers or suppliers overdue.
“This is having a serious impact on business owners’ wellbeing and finances. Ramifications can include business closure, dipping into personal savings as well as personal knock-on effects such as poor mental health.
“We hope our partnership with Good Business Pays helps to bring the issue of unfair slow and late payments for SMBs to the top of the national agenda. Business owners deserve to be paid on time, so they in turn can pay their own suppliers, which in turn fosters a much healthier cashflow environment for the entire supply chain.”
