Late payment of finance: building a responsible payment culture
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
This consultation has concluded
Download the full outcome
Ref: BIS/14/793 PDF, 367KB, 34 pages
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Detail of outcome
The government response summarises the views we received, and sets out the steps we will take in response.
Detail of feedback received
We received over 100 responses from a wide variety of businesses and industry representative bodies. You can view a full list of respondents at Annex A of the government response.
This consultation ran from
Seeks views on how to deal with late payment in business transactions.
Thousands of businesses experience severe administrative and financial burdens every year, simply because they are not paid on time. Late payment stops these businesses, small businesses in particular, from:
- investing to grow
- creating new jobs
- contributing fully to economic prosperity
This consultation asks what government, businesses and other stakeholders can do to build an environment where businesses treat their suppliers fairly, and accept their obligation to pay what they owe, when they owe it, without over-burdensome enforcement.
We seek views on:
- whether more can be done to change business culture through measures to improve accountability and transparency
- how to encourage small businesses to make better use of the statutory rights they already have and whether there is a case to improve those rights
- how we can help small businesses to help themselves to reduce the risk of late payment