fbpx

News & Blog

Read the latest business news, blogs and thought leadership articles from our members, as well as updates on the Edinburgh Chamber of Commerce's work in the city.

News & Blog

BCC welcomes improvements to Prompt Payment Code 

Posted: 19th January 2021

Suren Thiru, Head of Economics at the BCC said: “With firms continuing to face major cash flow difficulties, and our research suggesting that late payments have risen during the pandemic, businesses will be encouraged by the launch of a reformed prompt payment code.  

“The improved code must be the first step in creating a culture of prompt payment where affected firms feel confident to call out bad practices, government uses its convening power to tackle this issue in sectors where it is clear that problems exist, and where there is a clear focus on improving relationships between businesses to address the problem of late payment.” 

More details on the changes can be found here: https://www.gov.uk/government/news/government-tackles-late-payments-to-small-firms-to-protect-jobs

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
Read more here