The Better payment practice campaign will help make your business profitable. Ensuring that bills are paid on time is good business practice in which both buyers and sellers have a part to play.
Late payment eats into profits.
Your net margin will be reduced if invoices are not paid on time and ultimately this may threaten the viability of your business. The longer a debt remains unpaid the greater the risk that it will never be paid. This guide is designed to help both suppliers and buyers tackle the late payment issue. Its aim is to improve the payment culture of the UK business community and reduce the incidence of late payment of commercial debt. This is being reinforced by practical help to the business community in improving credit management and payment practices and thereby helping to reduce the problem of late payment.