New prompt payment rules take effect
Government suppliers must pay 95% of invoices in 60 days.
Most small firms absorb the cost of wage increases
FSB says a “cautious approach” to the national living wage is needed.
Late payments are a ‘growing challenge’ for 1 in 4 SMEs
Businesses report problems with regulations and customer demand.
Large businesses penalised for late payments
18 companies suspended from the prompt payment code.
3 in 4 firms support auto-enrolment extension
Businesses say higher contributions will be needed in the future.