Government has already been working alongside the banks, business organisations and financial organisations to ensure that business has access to the very best advice on managing cashflow. In November BERR published a series of cashflow management guides in partnership with the Institute of Credit Management (see link below).
On 10 December Lord Mandelson launched a new Code of Practice to help increase the speed of payments to smaller companies.
The code, developed with the Institute of Credit Management and supported by major business organisations, aims to establish a clear and consistent policy in the payment of business to business bills.
The Institute of Credit Management will host the code on its website and will include a facility for suppliers to raise concerns about late payers. The code can be found at the link below.
