Small Business Commissioner to help small firms tackle late payments

With an estimated £26bn owed to small firms in late payments, the planned new commissioner will support those chasing payments and investigate complaints over unfair practices.

During the Queen’s Speech in May, plans were outlined for a new small business conciliation service to help settle disputes, specifically over late payment, preferably without the need for court action.

As part of the government’s new Enterprise Bill, plans for a new Small Business Commissioner were announced. The commissioner would deal with outstanding payments and supply-chain bullying, where suppliers are forced to cut their prices in order to retain the custom of much bigger firms.

The commissioner would also:

  • Be a point of first contact for small businesses and provide advice and support on how to avoid disputes and how to resolve them;
  • Offer access to mediation services to sort out issues quickly and affordably, 'at a fraction of the cost of going to court';
  • Investigate complaints over unfair business practices and regularly report its findings.

Business minister Anna Soubry said the role would tackle the power 'imbalance' between small and large UK businesses.

The government is asking small businesses for their views on the proposals to establish a Small Business Commissioner. The consultation ends on 21 August. Have your say here >

For advice and support any issues affecting your business, contact the Buckinghamshire Business First business support team: 01494 568941 / BusinessSupport@bbf.uk.com.

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