Posts Tagged ‘Paul Uppal’

Government Launches Small Business Commissioner to Help Resolve Payment Disputes

Posted on: December 20th, 2017 by blsuser1 No Comments Tags: , , , , , ,
Posted in Business Finance News

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

You can visit the Small Business Commissioner website here.

Small Business Commissioner, Starling Bank Mobile Business Account & Working Capital Management – BFB Epsd 185

Posted on: October 7th, 2017 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

After a long wait, the government has announced the appointment of the Small Business Commissioner. How will the new Commissioner, Paul Uppal, help small businesses, particularly when it comes to late payment?

Starling Bank, the mobile-only bank account provider, has announced the forthcoming launch of its mobile account service for businesses. They are looking for small business owners who are prepared to take part in the initial trial and help shape its look. Could that be you?

Carrying too much working capital can strangle growth. A new survey from Lloyds Bank has calculated how much cash businesses have tied up in surplus working capital. The amount, if released, could free businesses to fund their own growth plans.

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