{"id":58765,"date":"2019-06-20T08:05:55","date_gmt":"2019-06-20T07:05:55","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=58765"},"modified":"2019-06-20T08:05:55","modified_gmt":"2019-06-20T07:05:55","slug":"payment-practices","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/","title":{"rendered":"New measures to ensure small businesses are paid on time"},"content":{"rendered":"<h2>For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst<\/h2>\n<p>Company boards will now be held accountable for payment practices to small businesses within their companies in a drive to increase transparency and accountability on <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/tackle-poor-payment-practices\/49907\/\">late payments<\/a>.<\/p>\n<p>New measures will force Audit Committees to report payment practices in company annual reports.<\/p>\n<p>The government will consult on strengthening the powers of the Small Business Commissioner to hold to account the minority of larger businesses who fail to make payments on time. New powers could include compelling information and disclosure of payment terms and practices, imposing financial penalties or binding payment plans on large businesses found to have unfair or late payment practices.<\/p>\n<p>Responsibility of the voluntary code of best practice \u2013 the <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-suspended-prompt-payment\/56187\/\">Prompt Payment Code<\/a> \u2013 will be moved to the Small Business Commissioner. This will put tools to tackle late payment under one organisation, ensuring the Commissioner has the powers to affect culture change in unfair payment practices.<\/p>\n<p>Small Business Minister Kelly Tolhurst said: \u201cThe vast majority of businesses pay their bills on time, with the amount owed in late payments halved over the last five years. But as a former small business owner, I know the huge impact a late payment can have on the ability of a small business to plan, invest and grow.<\/p>\n<p>\u201cSmall businesses are the backbone of our economy and through our modern Industrial Strategy we want to ensure the UK is the best place to start and grow a business. These measures will ensure that small businesses are given the support they need and ensure that they get paid quickly &#8211; ending the unacceptable culture of late payment.\u201d<\/p>\n<h3>Other proposals include:<\/h3>\n<ul>\n<li>A tough new approach to large companies which do not comply with the Payment Practices Reporting Duty \u2013 an existing mandatory requirement on large businesses to report payment practice to a national database twice a year. The legislation allows for the prosecution of those which do not comply, and fines may be imposed. The government will consult on giving these powers to the Small Business Commissioner.<\/li>\n<li>A\u00a0<a href=\"https:\/\/www.gov.uk\/government\/publications\/business-basics-fund\">Business Basics Fund\u00a0<\/a>competition of up to \u00a31m in funding to encourage businesses to use technology to simplify invoicing, payment and credit management to ensure they work as effectively as possible.<\/li>\n<\/ul>\n<p>Mike Cherry, national chairman of the Federation of Small Businesses, said: \u201cSmall businesses will be delighted with today\u2019s announcement.\u00a0FSB\u00a0has worked very hard with government to create a whole-board approach to late payment within the UK\u2019s large companies, and empower Audit Committees to look after the supply chain.<\/p>\n<p>\u201cTogether with measures to strengthen the Small Business Commissioner\u2019s powers and reform the Prompt Payment Code, the measures today could finally see an end to poor payment practice. Changing our business culture will boost the small business community, productivity and growth.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[283,276,639,621],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-58765","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-finance","8":"tag-government","9":"tag-procurement","10":"tag-sme"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New measures to ensure small businesses are paid on time<\/title>\n<meta name=\"description\" content=\"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New measures to ensure small businesses are paid on time\" \/>\n<meta property=\"og:description\" content=\"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-20T07:05:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/06\/New-measures-to-ensure-small-businesses-are-paid-on-time-\u00a9-Dana-Rothstein-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1303\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steph Blundell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New measures to ensure small businesses are paid on time\" \/>\n<meta name=\"twitter:description\" content=\"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Steph_PBCToday\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\"},\"author\":{\"name\":\"Steph Blundell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\"},\"headline\":\"New measures to ensure small businesses are paid on time\",\"datePublished\":\"2019-06-20T07:05:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\"},\"wordCount\":494,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Financing\",\"Government Policy\",\"Procurement\",\"SME\"],\"articleSection\":[\"Planning &amp; Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\",\"name\":\"New measures to ensure small businesses are paid on time\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2019-06-20T07:05:55+00:00\",\"description\":\"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New measures to ensure small businesses are paid on time\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building &amp; Construction Today\",\"description\":\"The Latest Planning, Building &amp; Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\",\"name\":\"Steph Blundell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"caption\":\"Steph Blundell\"},\"description\":\"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk\",\"sameAs\":[\"https:\/\/www.pbctoday.co.uk\",\"https:\/\/www.linkedin.com\/in\/steph-blundell\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday\"],\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New measures to ensure small businesses are paid on time","description":"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/","og_locale":"en_US","og_type":"article","og_title":"New measures to ensure small businesses are paid on time","og_description":"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst","og_url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/","og_site_name":"Planning, Building &amp; Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2019-06-20T07:05:55+00:00","og_image":[{"width":2000,"height":1303,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/06\/New-measures-to-ensure-small-businesses-are-paid-on-time-\u00a9-Dana-Rothstein-.jpg","type":"image\/jpeg"}],"author":"Steph Blundell","twitter_card":"summary_large_image","twitter_title":"New measures to ensure small businesses are paid on time","twitter_description":"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister Kelly Tolhurst","twitter_creator":"@https:\/\/twitter.com\/Steph_PBCToday","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/"},"author":{"name":"Steph Blundell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb"},"headline":"New measures to ensure small businesses are paid on time","datePublished":"2019-06-20T07:05:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/"},"wordCount":494,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Financing","Government Policy","Procurement","SME"],"articleSection":["Planning &amp; Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#respond"]}],"copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/","url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/","name":"New measures to ensure small businesses are paid on time","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2019-06-20T07:05:55+00:00","description":"For the first time large businesses could be fined for failing to pay smaller suppliers on time as part of new measures unveiled by Small Business Minister","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/payment-practices\/58765\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"New measures to ensure small businesses are paid on time"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building &amp; Construction Today","description":"The Latest Planning, Building &amp; Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb","name":"Steph Blundell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","caption":"Steph Blundell"},"description":"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk","sameAs":["https:\/\/www.pbctoday.co.uk","https:\/\/www.linkedin.com\/in\/steph-blundell\/","https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday"],"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-10-03 23:52:13","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/58765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=58765"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/58765\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=58765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=58765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=58765"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=58765"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=58765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}