Home > Uncategorized > Time for Government intervention?

Time for Government intervention?

From the ever excellent Real Business magazine, the following

http://realbusiness.co.uk/article/26448-bar-late-payers-from-government-contracts-say-small-businesses

Almost a quarter (23 per cent) of its members reported an increase in late paying clients, while just 3 per cent said the problem had declined over the last year. 29 per cent reported an increase in the average length of time past the payment deadline.  

 

Disturbing statistics proving once an for all that to date, the rather tame government initiatives have had no effect whatsoever.

Many will blame the economic climate for the increase in delayed payments, but Im not so sure. To put it simple human terms, it is very much a case of “if they are doing it, why shouldn’t i?”. Late settlements are becoming habitual and almost standard

And will the trend improve? I will address why I am very doubtful in a future post, because this is a wider issue but it is reasonable to assume that change is best achieved when pressure is applied

“Small businesses call for the government to bar late payers from contracts”

Interesting to see if there will be a response to a call which has a great deal of merit

 

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