Magazine article Management Services

League Tables on Payment to Be Published

Magazine article Management Services

League Tables on Payment to Be Published

Article excerpt

League tables disclosing the payment record of large companies are to be published next year following an agreement between Britain's largest small firms group and the world's leading business information company.

The Federation of Small Businesses (FSB) and Dun & Bradstreet have recently agreed to link up to compile and publish an annual league table which will show the average payment time of Britain's plc's and their large private subsidiaries.

The idea to disclose the average time taken to pay suppliers by producing league tables with the private sector, has been welcomed by the government.

Barbara Roche MP, Small Firms Minister said, "The publication of private sector league tables will enable small businesses to monitor and compare over time the payment performance of public limited companies and their large private subsidiaries. Today's announcement is an important step in helping to promote a more ethical payment culture in the UK"

Commenting on the publication of the league tables, the FSB's Trade and Industry Chairman, Dr Bernard Juby said, "The issue of late payment continues to cause concern to Britain's small businesses and it is vitally important that they have enough information to hand to see how quickly they can expect to be paid. …

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