FSB report shows stopping
late payments could save 50,000 small businesses
THE Federation of Small Businesses
(FSB) has published a comprehensive report looking at how small firms and the
wider economy are affected by poor payment practice.
FSB's report:- 'Time to Act: The economic impact of poor payment practice,'
has found that existing policy interventions have had no discernible effect on
tackling problems surrounding the UK's poor payment culture over the past 5
years. Small businesses report that, on average, 30% of payments are typically
late; compared with 28% in 2011.
The impact of poor payment on small businesses can be devastating. The report
shows that 37% have run into cash flow difficulties, 30% have been forced to use
an overdraft and 20% say profits have been hit. At the extreme end, late
payments and resulting cash flow difficulties have caused businesses to fail. In
2014, if payments had been made on time and as promised, 50,000 businesses could
have been saved, growing the UK economy by £2.5 billion.
Chris Burgess, Chairman of FSB Merseyside, West Cheshire and Wigan, said:-
"There is a real danger that we are creating a business culture in the UK
where it is acceptable not to pay SME's on time. All too often large companies
ride roughshod over their small suppliers by not paying them on time or in full,
which has a chilling effect right across the economy. It's distressing to hear
from our members that, in 2016, the average value of each late payment now
stands at £6,142. Small businesses have to run a tight ship as far as their cash
flow is concerned as they struggle with increasing business costs and an
uncertain domestic economy They should not also have to struggle with the
stress, time and money required to chase overdue payments from big businesses."
FSB highlighting the good and bad practice we find, making the boards of larger
companies explicitly own and be accountable for the impact their chosen payment
strategy has on their suppliers.
Government should devote an element of its upcoming Corporate Governance drive
to:- 'supply chain respect', alongside measures on executive pay
and workers... Also the Department for Business, Energy and Industrial Strategy (BEIS) should end
the delay in appointing the Small Business Commissioner pledged in the Queen's
Speech 18 months ago, and ensure this office has a specific remit to tackle
supply chain bullying within its 'name and shame' powers...
The Chartered Institute of Credit Management and BEIS should give real substance
to the Prompt Payment Code (PPC) through a:- '3 strikes and you're out'
penalty system that tackles repeat offenders, and by making the PPC mandatory
for the largest firms.
Chris Burgess continued:- "Our report is further evidence of why it is so
important, from an ethical and economic point of view, to address this issue
head on. Payment culture is set at board level and supplier interest must be
represented at the top of the chain. It's something that CEOs and board members
in big businesses must take responsibility for. Big businesses should respect
the supply chain and stop using smaller businesses as a credit line by delaying
payments and applying bullying tactics."
Snow White opens at
SOUTHPORT Theatre will answer that
question when its spectacular Christmas pantomime, Snow White, opens on Friday, 9 December
The traditional tale of Snow White, familiar to many from the Disney movie, has
a special panto style twist with the inclusion of the hilarious Dame Dolly
Mixture and Jingles the Jester, loyal friends of Snow White out to thwart the
evil plot of the Wicked Queen.
Queen Evilyn is played by Sydney born Lynne McGranger, recognised world wide for
her portrayal of Irene Roberts in Home and Away, a role she has played since
1993. In 2014 she was runner up on the Australian version of Dancing with the
Lynne says:- "The UK panto experience is always exciting - even though I
am working hard and doing two shows a day, it's also like a holiday. I love
being somewhere new, meeting people and making new friends. I am really excited
that this year I will be getting to play one of the most iconic fairy tale
baddies; it is going to be great fun."
Providing the face of the Queen's confidant will be children's television
favourite Justin Fletcher! Justin will be making a special appearance via video
projection as the Magic Mirror in a spectacular special effect that will delight
all the family.*
The cast is completed by Jason Marc Williams as Dame Dolly Mixture, Alistair
Barron as Jingles the Jester, James Leeman as Prince Michael and Harriet Payne
as our heroine Snow White. This year's pantomime is once again produced by Imagine Productions and directed
by David Janson.
With spectacular sets and costumes, fabulous songs and dances, and plenty of
slapstick fun, the whole Snow White company is looking forward to making
Christmas in Southport extra special.
Snow White plays at Southport Theatre, from Friday, 9 December to Saturday, 31 December
For more information or to book tickets call:- 0844 871 3021 or visit:-
* Please note that Justin Fletcher appears as a projection in the Magic Mirror
and does not appear in person.
Another Coastal Road Crash in Ainsdale
A collision between vehicles, on the
Coastal Road, just before the Pontins roundabout lead to the closure of the road
over morning rush hour. The road was re-opened at around 12pm (noon) after
officers from Merseyside Police made notes and the vehicles where recovered. A
spokesperson for Merseyside Police said:- "The accident occurred between a
Zuzu and a Ford during heavy commuter traffic." We know an Ambulance had
attended, but at time of publishing, we have not got any more information.
Help make vulnerable
children's voices heard in Merseyside this Christmas
CHURCHES in Merseyside are inviting
their local communities to help bring hope to some of the UK's most vulnerable
children this festive season by supporting their Christingle celebration in aid
of The Children's Society.
A number of services are being held throughout December and beyond, and are open
to everyone. All money raised will go towards providing life-changing support
for vulnerable children and young people and to make sure their voices are
Families and communities are welcome to come and celebrate at the festive
fundraising events, which revolve around children decorating oranges with red
ribbon, cocktail sticks and sweets. These, as well as a candle, highlight
different parts of the Christian story.
Christingle is a tradition that has been taking place for almost half a century
and these events are an opportunity for people of all ages to join in, light a
candle and enjoy the warmth and vibrancy of this special festive occasion.
In the UK there are almost 4 million children and young people dealing with
hardship, abuse and neglect which are ruining childhoods and future prospects.
With around 1 million people attending each year, the Christingle fundraising
events play a key role in supporting The Children's Society's vital work to help
some of this country's most vulnerable children. This year, the charity is
aiming to raise £1.2 million and all funds raised will be crucial to its work.
Matthew Reed, Chief Executive of The Children's Society, said:- "We're
delighted that so many Christingle events are happening across Merseyside to
help disadvantaged children and we're truly grateful to everyone who attends for
Vulnerable children and young people are at the very centre of what we do and we
need to make sure their voices are heard so their lives can be improved. These Christingle
events in Merseyside and across the country make it possible for us to carry on
our vital work and transform the lives of even more children in need of our
To find out about local Christingles near you by going
Christingles being held in Merseyside include services
||St. Annes Church
||St Johns Church
||St Helens Parish Church
||St Mary's Church
||St. Marys Church
||Rainford Parish Church
||ST MATTHEWS WITH ST MARY
410 STANLEY ROAD
||St Athanasius Church
90 Rock Lane West
||St Cuthberts Church, Croxteth
3 Langley Close
||Christ Church Birkenhead
||All Saints Church
3 Church Street
||St. John the Divine
||St. John the Baptist Church
St. Johns Vicarage, 142 Birkenhead Road
||Saint Peter's Church