Small Businesses
The question
To ask the Secretary of State for Business and Trade, what steps his Department plans to take to strengthen the framework for holding large corporations accountable in their support for small businesses.
Answered by Gareth Thomas
In September 2024 we announced a package of measures to help ensure small businesses are paid promptly by the large businesses they supply.
This included launching a new Fair Payment Code and a commitment to including payment performance information in large companies’ annual reports.
In the spring we will launch a public consultation on further measures to address late payments, including new powers for the Small Business Commissioner to tackle large businesses who pay late.
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