An article by UK Debt Collection News says that there has been no real improvement in the speed at which Large companies are paying their suppliers. The research conducted by Accountancy firm Moore has shown that 41 days is the average waiting time for payment. This is the same as it was in 2015.
The past five shows that despite initiatives to curb the problem, no real progress has been made with large companies just ignoring all legislative initiatives.
The continuing problem of payment delays would suggest that Government legislative initiatives to tackle this issue, such as the Prompt Payment Code are simply not working.
The research by Moore also shows that over 15% of the 113,000 UK businesses covered by the study are having to wait 90 days or longer to be paid. READ MORE