Crawley MP, Henry Smith has given his support to the Prompt Payment Code and encouraged local businesses to sign up.
Henry said:
“Prompt payment is critical to the cash flow of every organisation, particularly small businesses within a supply chain. Though fast payment is always welcome, it is the guarantee of getting paid that is most important. This crucially allows businesses to plan for their future by being able to make commitments knowing these payments are coming in.
“The Prompt Payment Code is a scheme that encourages signatories to pay their suppliers within clearly defined terms. These include paying within the time period originally agreed and paying without attempting to change the agreed terms retrospectively.
“By signing up to this code, suppliers can build stronger relationships with their customers with the confidence that they will be paid. Building confidence is vital to our economy as it helps to stimulate both investment and growth and so this Code can really help businesses locally and nationally.
“Government departments are setting a great example with more than 80% of invoices now paid within five days. I hope Crawley businesses follow this example and join the 1000 businesses that have already signed up to the Prompt Payment Code.”
Follow Henry daily via: www.facebook.com/henrysmithmp; www.youtube.com/user/HenrySmithMP; or www.henrysmith.info.
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