Creating a responsible payment culture: a call for evidence in tackling late payment

cover image
Document type
Paper
Corporate author(s)
Great Britain. Dept. for Business, Energy and Industrial Strategy
Publisher
Department for Business, Energy and Industrial Strategy
Date of publication
4 October 2018
Subject(s)
Small business & enterprise: the practicalities of running a small business and the theory of entrepreneurship
Collection
Business and management
Material type
Reports

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As of 2017, the amount owed to smaller businesses in late payments more than halved from the previous 5 years. The level of late payment debt owed to small and medium-sized businesses remains far too high and many small firms still have no choice but to trade on terms which are too long, imposed on them by larger customers.

This call for evidence seeks views on what more the government can do to create a responsible payment culture, including:

  • the current experiences of businesses in their payment practices;
  • the impact of existing measures to improve payment practices and what more can be done to further refine measures and promote good practice; and
  • whether new measures should be introduced to further encourage a responsible payment culture.

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