New measures to support Prompt Payment Code (PPC) have been backed in a letter sent to PPC signatories from Small Business Minister, Margot James and chief executive of the Chartered Institute of Credit Management, Philip King.
Quote from Nigel Holland:
“ I support the new measures for the prompt payment code (PPC), as too many SMEs are often in a vulnerable position, with many creditors or suppliers delaying payments.
This can have a huge negative impact upon SMEs, who do not have revenue to keep the business running steadily. The PPC would give parties a reasonable amount of 30 days to repay invoices, which will reduce adverse implications for small businesses.
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