Late Payments Minister To Finally Arrive In 2017

Announced back in July 2015, by then business minister Anna Soubry, the role aims tackle the "imbalance" between small and large firms

Late Payments Minister To Finally Arrive In 2017

UK small businesses are going to receive a Tsar to help them tackle the issue of late payments, but not until 2017, it has been revealed.

Government ministers have launched a consultation process with the aim to appoint a small business commissioner to tackle the issue of overdue payments.

Initially announced way back in July 2015, by then business minister Anna Soubry, there has yet to be an official appointment with the position remaining unfilled.

In the original announcement, Soubry said the position would tackle the power “imbalance” between small and large UK businesses, and said the commissioner would provide advice and support on how to avoid and resolve disputes, offer access to mediation service and investigate complaints over unfair business practices.

The department for business said the latest consultation will look at “how the small business commissioner will operate and handle complaints, and is open to responses from businesses of all sizes”.

Just last August it was revealed that 40% of UK small businesses who had to write off debts in the last financial year, with the average business being estimated to be owed a total of £62,957.

Is your business struggling with late payments? Read this guide and take what you’re owed

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