Small firms will be pleased to learn that the Labour party has pledged to put late payments and business rates at the top of its agenda.
Responding to the speech delivered by Labour leader Jeremy Corbyn last week, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said:
“Our late payment crisis remains the biggest scourge afflicting the UK’s small business community. It destroys 50,000 firms a year at a cost of at least £2.5 billion to the economy.
“The Labour Party’s commitment to putting this crisis to bed for good is encouraging, and we look forward to seeing exactly how they intend to go about doing so on Thursday.
“We’re clear that the promises made by the Conservative government on this front need to be delivered. That means making corporate boards fully accountable for poor supply chain treatment, properly empowering a new Small Business Commissioner, and banning late payers from all public sector procurement opportunities.”