Are government keeping to the prompt payment code?
In response to lobbying by industry bodies, including the British Furniture Confederation (BFC), government turned its attention to the problem of corporate late payment. Earlier this year the Department for Business Innovation and Skills (BIS) launched a voluntary code to encourage best payment practice within the supply chain. See - prompt payment and press release.
However, some furniture manufacturers may find this inconsistent as anecdotal evidence suggests that Government itself has not, historically, had the best payment record.
However, it is hoped that Business Minister Mark Prisk’s focus on the importance of this issue for SME’s including furniture companies will initiate improvements at both national and local government level.
Should you feel that this is not the case, and that late payment, or delayed payment due to minor disputes, is still a problem within government, please let the BFM know so we can take the matter forward. Ministerial attention is more likely to be grabbed by citing specific cases.