Late payment must be top priority for new Minister
IPSE has reacted to Margot James, Minister for Small Business, Consumers and Corporate Responsibility, supporting the Prompt Payment Code (PPC) and recognising ‘success’ in changing late payment culture, in a letter to PPC signatories.
IPSE Director of Policy and External Affairs, Simon McVicker, said: “Being paid late, or not being paid at all, can have a devastating effect on self-employed people. Many depend on being paid on time to run their business. And it’s still happening all too often.
“Despite recent progress, including on 30 day payment terms through the supply chain, late payment remains a huge problem for the smallest businesses. A staggering three quarters of disputes between freelancers and their clients relate to payment issues. That’s why we need to see a Small Business Commissioner installed as a matter of urgency. This is not an appointment that can wait until 2017. We need a strong figure who can lead on better payment culture now.
“We are glad this issue is on the agenda of the new Minister for Small Businesses, and we urge her to prioritise finding ways to support the self-employed as the UK negotiates its exit from Europe.”