Small businesses across Staffordshire are being encouraged to speak out about how late payments are impacting them.
A new campaign by Staffordshire Chambers of Commerce wants real-life experiences to feed into its late payment reform.
It comes as figures from the Department for Business and Trade show late payments cost the UK economy almost £11 billion per year and close down 38 UK firms every day.
Daily Focus has launched a poll (below) to capture the number of businesses impacted by late payments.
And Declan Riddell, policy adviser at Staffordshire Chambers, is keen to hear from businesses who are prepared to share more information.
He said: “A healthy cash flow is critical for our local businesses to survive and grow.
“We know there are cases of bankruptcies, redundancies, stalled growth, businesses being forced to delay paying their own staff and suppliers and staff time being wasted on chasing unpaid invoices.
“This is having a ripple effect across the economy and now is the time to come forward with those stories to help us push for action to be taken.”
Businesses who can share their experiences of late payments with Staffordshire Chambers should email declan.riddell@staffordshirechambers.co.uk
A Government consultation on proposed late payment measures is running until 23 October. Feedback can be given here: https://ditresearch.eu.qualtrics.com/jfe/form/SV_0v37vzvBpfM5Exw
Click here to read the Daily Focus story which launched the campaign, featuring an insight from two local businesses who have suffered because of late payments in the past.
