A bid writing company has picked up a prestigious award for demonstrating best payment practices.
DellaPip was one of just 10 businesses in the West Midlands to receive a Fair Payment Code (FPC) Gold Award at a ceremony at the Institute of Directors, at Pall Mall, in London, after paying at least 95 per cent of all invoices within 30 days.
The FPC was launched in December last year and is managed by the Office of the Small Business Commissioner on behalf of the Department for Business and Trade.
The issue of late and long payment times is one which disrupts the cash flow cycle and can prevent a business from paying its bills, eventually leading to business failure.
In 2023, 15 per cent of small businesses and medium sized enterprises cited cash flow and late payments as an obstacle to running their businesses.
Eccleshall-based Dellapip believes more companies should be celebrated for paying early or on time.
Director Katrina Gibson said: “This is a major issue. When I first started the business before it became a limited company, I was a sole trader. I was constantly having to chase invoices that were 60 days plus overdue and it’s difficult when you’re relying on that money for your salary or to pay the mortgage.
“I wanted to ensure I always paid my suppliers promptly because I understand the challenges; 72 per cent are small businesses, with 47 per cent based in Staffordshire. If we all paid on time, imagine what impact that could have.
“I would encourage other businesses to commit to the code. There’s a real need for change and to celebrate companies who pay early, or even just on time!”
Katrina frequently pays invoices on the day they are received.
She added: “Many businesses depend on that money, and I don’t understand how someone can benefit from a product or service but choose not to pay until months down the line. The pricing is made clear from the start, along with any payment terms, so it’s not exactly a surprise.”
Liz Barclay, Small Business Commissioner, said: “Congratulations to DellaPip. Everyone benefits when suppliers are paid quickly and fairly, and thrive, and embedding a culture of fair payment practices in your business is good for your own bottom line as well as for the economy, communities and wider society.”
