The U.K. Tackles Its Late Payment Culture

Small Business Depends on Timely Payments

Beginning in April of 2017, the U.K. will require larger companies and limited liability partnerships (LLPs) to report average time-to-pay metrics for their smaller suppliers twice a year. This was mandated by Margot James, the U.K.’s new small business minister, in an effort to discourage the practice by some large companies of habitually paying their smaller suppliers late.

A MarketInvoice study… conducted in 2016 revealed that 60 percent of UK invoic