Since 2021, we have built a strong coalition of willing organisations that support our mission to help solve a problem which has existed in Britain for almost fifty years.
We sit at the centre of industry commitments, policy development, regulation, business and civil society.
We bring awareness of the problem through an enormous amount of data collection, bring understanding through making sense of the data and create campaigns to help drive positive change in payment culture.
We mine data from multiple sources and publish it on our website free to access to promote transparency and awareness.
Data sources include government data, annual reports, trade body data, public sector procurement data, financial risk analysis and Freedom of Information (FOI) requests.
We use data from multiple sources to create insights that are fun, easy to understand and use so that anyone can easily make sense of the data.
Examples include thought leadership reports, sector league tables, company specific analysis, public sector league tables as well as our lists of fastest, slowest and latest payers.
We use our data and insights as engaging content to capture the attention and imagination of our stakeholders, with the intent to recognise and grow best practice.
Our campaigns include collaborative digital and social campaigns with members/partners, podcasts, Fast Payer Awards and industry and trade events.
Demonstrate transformational leadership on fair payment culture for small businesses through joining the collaborative network paving the way forward.
Gain clarity for Board, executives, investors and stakeholders (suppliers and customers) around what payment practices are fair, practical, desirable and possible and what is subject to policy intervention where relevant.
Join an influential and well-regarded coalition of industry leaders to test industry insight, share innovation and best practice to accelerate growth through a more effective and efficient payment culture.
Engage openly with businesses and other members to understand what they need to transition to a faster and better payment culture.
“Transparency is the first step to change, and we hope that these companies and their clients and customers see them languishing below their competitors, take a good hard look at their sub-par performance and decide to improve. The work by Good Business Pays on the late payments data, provided by the government, is essential reading for anyone with an interest in the ESG agenda.”
“We would legislate to require the audit committees of big businesses to report on their company’s payment practices in the company annual report. This would increase transparency for small businesses engaging withpotential future customers and would also build awareness within the businesses themselves of poor standards. We know a lot of big businesses are acutely aware of this problem and are making positive changes thanks to campaigngroups like Good Business Pays.”
“We are very proud to be recognised again for our payment terms by Good Business Pays. At McDonald’s, we pride ourselves on paying our suppliers, regardless of their size, in a prompt manner. Small businesses in particular rely on quick payment to protect their cashflow, which in turn helps them to survive and grow. This is even more important now as many businesses attempt to navigate their way through the challenging economic conditions that we all face.”
“We very much value the strong relationships we have with our suppliers and we are lucky to have a fantastic team who work hard to ensure a seamless and eIicient process in our supply chain allowing for prompt payment to support small businesses. I am also pleased to continue being able to support Good Business Pays and the work that you do.”
At HSBC UK we understand the detrimental eIect late payments can have on small businesses and their supply chains. As a bank that is passionate about supporting UK companies to grow, it’s crucial that our suppliers are paid promptly so they can invest back into their businesses. We are proud to be recognised by Good Business Pays and will continue to ensure suppliers are paid as quickly as possible.”
“We welcome Good Business Pays shining a light on boardroom practices. It’s clear that too many of the UKs big businesses continue to fail to look after their suppliers. The Boards of companies with poor payment practices should take a long hard look at themselves and take the action needed to improve their performance, not only for the sake of their suppliers but also for their own brand reputation and corporate citizenship.”
“Late payments hold small businesses back, so it’s vital that big companies tackle the issue. Our own research shows us that small businesses want more support to navigate digital tools that could help them get paid faster, so as well as backing Good Business Pays, we’ll provide practical support through our Strive UK programme.”
“I’m delighted that Resource Solutions has been recognised with Fast Payer Accreditation by Good Business Pays. Acknowledging our suppliers’ critical contribution with fair and fast payment terms should be a basic principle of doing good business.”
“It is great to see growing support for the Good Business Pays campaign. I’ve been working with Terry Corby for more than two years now and I do believe that we really are pushing this up the agenda.”
“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.”
“The time taken to pay an invoice matters. Not only does it have implications for the cashflow of the company that is supplying the goods or services, but also – as this excellent piece of analysis from Good Business Pays lays out – it can also serve as an early warning indicator of the financial health of the paying company itself. Increasingly, the way a firm treats their suppliers also matters to its retail customers, who use it to make judgements about the internal values and culture of the paying organisation.”
“At Barclays, we want to be a partner for growth and help businesses thrive. We understand how stressful and frustrating chasing late payments can be and how uncertainty around cashflow can prevent businesses from investing, growing, or even trading at all. We are thrilled that our eIorts have been recognised by Good Business Pays with this award and look forward to continuing to raise awareness of the importance of prompt payments.”
“As the largest supporter of UK businesses, we are proud to have been awarded the Fast Payer Accreditation by Good Business Pays for the third consecutive year. We will continue to champion the potential of SMEs and better support our suppliers through early payment.”
“Thankyou to the 290 businesses that have made it into the Fast Payer Awards in 2023 for the incredible work you do making sure small businesses get paid more quickly – 25% more businesses in that list this year, which illustrates the fine work done by Terry Corby and Good Business Pays, and that says it all.”
“We are completely on the same page when it comes to tying to change this culture. Good Business Pays is a really eIective campaigning group and the Federation of Small Businesses have got a lot of context within government that give us a lot of leverage when it comes to big political processes. And I think the combination of us is irresistible really.”
“Guardian Media Group is pleased to be included in Good Business Pays, Fast Payer Awards. In keeping with our values, we work hard to develop and maintain a strong set of relationships across our supply chain, and – as part of these eIorts – we recognise the importance of prompt payment to our valued partners.”
