Marion Fellows – 2015 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Marion Fellows on 2015-11-04.

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to encourage prompt payment to small businesses.

Anna Soubry

We will establish a Small Business Commissioner to help small businesses deal with late payment disputes. We are also introducing new payment reporting requirements for large companies that will allow public scrutiny of payment performance

I was pleased to see Tesco has cut its payment terms to 14 days for suppliers with total sales to Tesco worth less than £100,000 a year.