Introduction of small business commissioner is a welcome move for SMEs
She hopes that the commissioner’s aims of tackling late payments to SMEs are successful, after repeatedly calling on the government to tackle this issue.
Late payments continue to be a problem for small businesses today. The results from a survey issued last year by the Federation of Small Businesses shows that 51% of business owners have experienced late payments in the past 12 months.* Bartlay is hopeful that the yet-unnamed small business commissioner can help lower this figure in the battle against late paying companies in the UK.
She stated, “The plans to instigate a small business commissioner are a welcome step in the right direction. What we need are measures that are going to work, no matter what the business size or influence is. It simply cannot be fair that small businesses can end up being the bankers for larger corporations. For small businesses to thrive, they need to focus on cash flow, not act as banker of last resort for bigger enterprises. I hope that the Small Business Commissioner can help tackle these problems head-on.”