SME invoices could be paid quicker
The Department for Business, Energy and Industrial Strategy (BEIS) is exploring tougher measures to implement the Prompt Payment Code (PPC).
These include potential alterations to the Code which would see business commit to pay smaller firms within 30 days. These measures are being explored via a consultation survey, launched by the Small Business Commissioner (SBC), which can be completed here.
BEIS is also seeking SME owners’ views on whether some of the SBC’s current approaches should continue, such as publishing information about suspensions and removals and whether it should be able to approach firms it is told are not complying with the code.