Late payments and unfair payment terms
The time taken to pay an invoice matters. Not only does it have implications for the cashflow of the company that is supplying the goods or services, but it can also serve as a warning of the financial health of the paying company itself.
Below is a list of resources provided by Good Business Pays and the Office of the Small Business Commissioner to help you and your business understand late payments and unfair payment terms, the impact they can have on the business, and who pays the fastest and the slowest.
resources
Free business support
Gain access to free business support and financial help from the Government.
Small Business Commissioner advice and support
The Small Business Commissioner provides free support to small businesses in tackling late payments and unfavorable payment terms.
Can late payment culture be an alarm signal of wider problems in a business?
In this report, Good Business Pays makes the case that the figures on late payments provide a warning light on the dashboard of the financial health of a company and the way it is being run.
NHS Trust payments
Good Business Pays provides a snapshot of each NHS Trust’s average payment time.
Local authority payments
Good Business Pays provides a snapshot of each Local Authority’s average payment time.
Fastest payer award
Each year, Good Business Pays recognises hundreds of companies that value supplier relationships buy paying them promtly.
The late & slow payment watchlist
Good Business Pays’ Late & Slow Watchlist provides a list of companies who are reporting the worst payment performance figures as part of the Government’s Payment Practices & Performance Regulations.