If you are one of the estimated 20% of small businesses which have run in to cash flow problems due to late payments, then help may finally be at hand.
The government has finally launched the complaint handling service of the Small Business Commissioner to ensure fair payment practices for small businesses. This follows the appointment of Paul Uppal to the role of Small Business Commissioner in October 2017.
The Commissioner’s website has also gone live, providing guidance on payment issues including how to take action if a payment is overdue.
Margot James, Small Business Minister, says that £14 billion is owed to UK small businesses and estimates that taking action on late payment could potentially deliver a £2.5 billion annual boost to the economy.
The Small Business Commissioner’s website provides guidance on how to ‘check, chase, and choose’ in respect of dealing with unfair and late payments, that is:
– check if the right information has been provided to the right people in order for an invoice to be paid
– chase effectively when a payment is overdue
– choose how to take further action, including the option of submitting a complaint to the Small Business Commissioner
I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.
Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!
Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.
Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.
Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.