Dogged by late payment? Your chance to send a message to government

Late payment remains endemic in the construction sector, with recent reports suggesting that on public sector projects alone, 85% of contractors are paying late. The government has now launched a consultation on addressing the UK culture of late payment which makes specific reference to the issues within construction.
 
Analysis produced for Construction 2025, the Industrial Strategy for construction, concluded that late payment was a particular obstacle for small businesses in this sector. Contractors are often not paid until some time after the work is done, and it is not unusual for lower tier supply chain members to have to wait up to 100 days to receive payment. This harms cash flow and increases the reliance on borrowing. The government are trying to address this with a discussion paper and they want your views.
 
The closing date for responses is 31st January 2014 and we would be grateful if you could send any feedback on the consultation through to matthew.mahony@bwf.org.uk by Monday 20th January 2014 to help us formulate an industry response. The discussion paper, Building a Responsible Payment Culture, can be found on the Gov.uk website.
 
Businesses in the supply chain often struggle with extended payment terms, late payment and poor cashflow. The BWF is a strong supporter of the Fair Payment Campaign and is firmly of the view that limiting payment periods to a maximum of 30 days will help SMEs such as those manufacturing and installing joinery products to survive and grow, to the benefit of the UK economy.
 
www.bwf.org.uk/campaigns/uk-construction/fighting-forms-and-getting-you-paid-on-time
 
BWF members needing advice can use our business support helplines which includes legal and contractual assistance from Wedlake Bell, and employment advice from Croner. This gives you even more of the assurance you need when dealing with tricky contractual and employment issues.