Lamport Bassitt Solicitors - Legal News - Big businesses paying bills quicker


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Big businesses paying bills quicker Big businesses are managing to pay their suppliers more quickly, new figures from Experian reveal. Large businesses in the UK improved payment performance by almost a day between Q1 and Q2 2011, the data shows. It follows a report from automated payment system Bacs that revealed a third of small and medium-sized enterprises believe private sector organisations with a turnover of over £1 million have the worst record for late payments, which could see some turn to a commercial debt recovery solicitor to recoup money. Jason Mills, head of payment performance at Experian UK & Ireland, said: "It is encouraging to see that for many firms, regardless of size, late payments did not slide further in Q2 2011." "However, it is still critical, especially for small businesses, to keep a close watch on cash flow." Recently, the Cabinet Office minister Francis Maude urged companies that work with the government to ensure they are paying their suppliers and contractors in a timely fashion. Posted by Alex McLean Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 17/4/2012 - Further regulation to encourage family mediation: justice minster 2/4/2012 - Fuel tanker driver dispute talks scheduled for Wednesday 23/3/2012 - Landowners urged to take more responsibility for falling trees 22/3/2012 - Justice reforms move a step closer More Dispute Resolution News