Welcome to the Fast Payer Award Winners 2022
So here they are! This year, Good Business Pays is happy to say we have accredited nearly 300 companies with our Fast Payer Award.
2022 has been a very challenging year, with worse to come. At the beginning of November, the Bank of England warned the UK risks being plunged into the longest recession in 100 years which is expected to last until middle of 2024.
The latest small business economic report from Xero is showing late payments are at their worst since August 2020. The Federation of Small Businesses forecasts 400,000 small businesses will fail this year alone due to cashflow problems.
The response of many large businesses is cash conservation – or withholding cash they owe to suppliers and small businesses.
Not so the companies listed here.
The 2022 Fast-Payers respect their suppliers, paying them fast and on time. They realise the value of true supplier partnerships and the integrity of the supply chain.
Last year, we identified the characteristics shared by Fast-Paying companies and found that they had strong values that were translated into concrete behaviours that brought their values to life.
So please look at these Fast-Paying companies and read what their leaders say about how important the supplier relationship is to them.
Thank you to all our winning companies. You will find companies from all sectors and parts of the UK here, showing no matter what market you are in, there are good businesses everywhere with strong values and a brilliant payment culture. These are the good businesses that are keeping our small business economy thriving and growing.
Terry Corby, Founding CEO, Good Business Pays CIC