This May we launched Good Business Pays, a nationwide movement to encourage the UK’s largest companies to fast-track payments to smaller suppliers. This is a problem that has existed for many years. But despite the great efforts of many people and organisations, the problem for small and medium-sized businesses waiting a long time to get paid still exists. We aim to bring an end to slow and late payments.
We are supported by the UK’s largest business groups: The Federation of Small Businesses; the Confederation of British Industry; Make UK; the Institute of Directors; the British Chambers of Commerce and the Creative Industries Federation. These together represent hundreds of thousands of employers who in turn serve millions of consumers.
This is a time for leadership – a time to put in place everything we can to build back better and ensure an inclusive recovery. The solutions are there to make this happen, so we believe it is purely a question of whether the will exists in leadership to make this commitment real.
The Good Business Pays badge will be awarded only to companies who demonstrate good practice in fast and on-time payments to their smaller suppliers. But all companies can and should make a commitment to work towards this goal – it’s the right thing to do.
Join us on this journey to make a positive change. On this site, you can see how most large companies perform in terms of prompt payment. As a SME, you can also sign up to support our cause (it costs nothing). If you are a large company interested in supporting us, please contact me directly at email@example.com.
Terry Corby, Chairman
Good Business Pays