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An organisation acting on behalf of the government has cracked down on late paying large businesses this week, suspending 12 firms from a voluntary punctual payment code.
The list of firms includes several construction giants Balfour Beatty, Laing O’Rourke, Interserve, Costain and Persimmon.
Former MP and small business owner Paul Uppal has been appointed as the first Small Business Commissioner, with a mandate to tackle the late payment crisis and put a stop to big business bullying.
The Commissioner role, which was first proposed in the summer of 2015, will give small businesses the support they need to thrive in line with the Government’s Industrial Strategy.
In the wake of Carillion’s collapse, construction industry chiefs have called for action to tackle bad payment practices.
Mark Castle, chairman of Build UK, spoke to Construction News about the need for “consequences” for bad payers, calling for more transparency to expose the industry’s worst offenders.
“When you have companies that have poor payment practices there has to be consequences for those companies, particularly when it comes to winning work,” he said.
If you are a contractor or freelancer working through your own limited company it can be useful to know that legislation exists to ensure that you, as a small or medium sized business (SME), are paid promptly for the work you perform.
