Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps her Department is taking to help ensure that small business are paid on time by other companies within their supply chains.

While the UK has a strong record of good payment times, we are determined to reduce payment times so that small businesses are given the best chance of succeeding. The Government set out policy actions in the Prompt Payment and Cash Flow Review which was published alongside the Autumn Statement in November 2023. These actions include extending the Payment Performance Reporting Regulations (via a Statutory Instrument laid in January 2024), providing the Small Business Commissioner with broader powers, and equipping small businesses with more information to negotiate payment terms that better suit them.