The announcement or a new role names small business commissioner was greeted with cautious optimism this week: but what powers will this new office bring with it and will it have any real clout to effect change around late payments and beyond?
As part of the Queen's Speech the Enterprise Bill offered support for small businesses hampered by late payments: but even with added help these companies must take action to tackle the problems themselves.
In an attempt to strengthen the Prompt Payment Code brought into effect in 2008, a panel of businesses and organisations are being assembled to ensure suppliers are paid on time and treated properly.
Having first raised the argument that SMEs are failing to connect with enterprises, Tradeshift CEO Christian Lanng looks at how smaller businesses should not be bullied by the big boys.
The government is warning big businesses listed on the FTSE 100 and FTSE 250 indexes that failure to join the Prompt Payment Code could result in being publicly named.
