Government to protect small businesses with actions on late payments

  • Government proposals to give more powers to the Small Business Commissioner (SBC) to help small firms with late payment

  • proposed new powers include ordering businesses to pay in good time and issuing fines if they do not, ordering companies to share information on payment practices and the power to launch investigations

  • £23.4 billion worth of late payments currently owed to small businesses in the UK, impacting on cash flow and threatening the survival of small firms during the COVID-19 pandemic

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