The Small Business Commissioner, expected to be based in Birmingham, is just one part of a package of measures designed to tackle this and drive a real change in the UK’s payment culture.
Regulations coming into force in April 2017 will require big businesses to publically report on the time taken to pay their suppliers, and guidance to help large businesses comply with these changes was published last month. This will shine a light on poor payment practices and allow suppliers, including small businesses, to make informed decisions about who they do business with.
The final appointment decision will be made by the Secretary of State, supported by a panel which will include Mike Cherry, the National Chairman at the Federation of Small Businesses.
Small Business Minister Margot James said:
We all rely on the UK’s 5.5 million small and medium sized businesses for jobs, goods and services, and an unfair payment culture that hurts these firms has no place in an economy that works for all. This is why we are looking for an exceptional individual to help smaller firms resolve payment disputes and champion a culture change in how businesses work together.
Addressing the barriers businesses face when scaling up and growing is an important part of a modern Industrial Strategy, and this appointment will play an integral role in ensuring small businesses have the support they need to thrive and grow.
read the full article here: https://www.gov.uk/government/news/search-underway-for-uks-first-small-business-commissioner