New Regulations Expose PLC Late Payment Data

The government has ordered all large businesses to disclose information on payment practices as it seeks to crackdown on late payment culture. From April, all enterprises which meet the qualifying criteria face a statutory Duty to Report information including the average time taken to pay invoices and details of payment dispute protocols.

The reports, which must be submitted twice a year, will be published online, giving suppliers access to critical information on the payment practices of potential larger clients.

How to Set Appropriate Credit Limits

In today’s economic climate, business customers and clients are increasingly asking for - and in many cases expecting - credit from their suppliers.

There are obviously many benefits to offering credit. It shows a willingness to be flexible which fosters stronger business relationships, and it helps to secure or keep important contracts. Used properly, extending credit for goods and services can give your business a competitive advantage and boost income.

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