payment policies

The Federation of Small Businesses Tackles Late Payment Issue with Parliament

The Federation of Small Businesses Tackles Late Payment Issue with Parliament

The Federation of Small Businesses (FSB) co-hosted a meeting with cross-party members of parliament this morning to confront the growing number of poor payment policies that are negatively effecting small and mid-sized businesses. The cross-party parliamentary roundtable took place today (January 20) with the FSB, who co-hosted with the All Party Parliamentary Group for Small Business (APPGSB), arguing the need for the government to evaluate payment issues and for larger corporations to be held responsible for their actions. According to the FBS, poor payment tactics that must be addressed include ‘pay to stay’ flat fees; excessively long payment terms; ‘late payment’ exceeding payment agreements; ‘one for you, one for us’ discounts for prompt payment, and ‘balance sheet bonus’ retrospecti... »