‘Name and Shame the Late Payers’ – Local MP

Andrew Stunell MP is asking local small businesses to report late payments by big firms to the 'Hall of Shame' on a website set up for the purpose by the Forum of Private Business.

Commenting, Andrew said -

"Many small businesses in Stockport struggle because big companies don't keep their word and pay them on time. This cascades down the supply chain leading to cash flow problems that should never have happened. The big firms use small companies as their bankers, and this initiative is designed to stop that."

"I want small businesses in Stockport to let the Forum of Private Business, and me, know about their experience in being paid late by big companies. Those firms are going to be named and shamed by the Forum - a powerful incentive to them to start to pay promptly."

The Government is already working alongside the Forum of Private Business to encourage more businesses to sign up to the Prompt Payment Code - a voluntary pledge to pay their contractors on time.

Mr Stunell is urging any local business that is suffering with late payments or unfair payment terms, to get in touch with the Forum for Private Business. They will investigate the claim and then name and shame the culprit on their website.

You can access the Hall of Shame via the following link -

http://www.fpb.org/page/531/Late_payment__Hall_of_Shame_.htm