|
News Index
Next
Previous
The SME sector is being squeezed by big businesses with some suppliers waiting
more than three months to get paid.
Calls have been renewed for the government to crack down on big corporates
holding out on paying SME suppliers as the time taken to settle many outstanding
invoices nears 100 days.
Complaints have been made about Debenhams, Alliance Boots, Selfridges and B &Q
for introducing payments terms of between 60 and 96 days after the invoice date
or pushing for discounts when bills are paid on time.
"The problem is growing, particularly in the retail sector", explained Martin
Williams, managing director of credit reference agency Graydon.
"In the grocery trade, the Competition Commission has called for an ombudsman to
be appointed to make sure that the supermarkets don’t pass on excessive risks
and unexpected costs to their suppliers.
"If the authorities believe this is a practice that should be stopped, why can’t
the government take steps to stop other retail giants from doing the same?".
Source:
RedAlert
|
