FPB adds to its payment blacklist

NORTH West small business pressure group Forum of Private Business, is maintaining its high profile attack on big businesses who are changing payment terms to suppliers.

The Knutsford-based FPB has turned its guns on IT giant Northgate Information Systems and building company ROK.

Some of the biggest names in retail are already members of the Hall of Shame, including North West discount fashion chain Matalan and Argos.

Northgate has doubled the amount of time it will take to pay invoices from 30 to 60 days.

ROK, which has several businesses on the North West, has
doubled its standard payment terms for new contracts with sub-contractors and consultants.

Recent research from the FPB showed that late payment is considered by business owners to be one of the most significant barriers to economic recovery.

Poor cash flow as a result of late or delayed payments was the main issue for 24% of respondents.

The FPB is urging the UK’s small businesses to report this behaviour anonymously by calling 01565 634467 or emailing campaigns@fpb.org.

For more information on the Government’s Prompt Payment code, visit www.promptpaymentcode.org.uk.