New powers for small business commissioner to help tackle late payment culture
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Small businesses across East Anglia now have support to challenge the unfair payment practices of larger firms from a new government initiative.
The small business commissioner’s complaint handling service, launched today, will support the region’s 96,000 small firms by giving advice on late payment issues – a significant thorn in the side of small businesses.
It follows regulations made by small business minister Margot James which give the commissioner powers to help resolve payment disputes raised by small firms, along with providing online guidance on what action to take if a payment is overdue.
It is estimated the new service could deliver a £2.5bn annual boost to the East Anglian economy.
Recently-appointed small business commissioner, Paul Uppal, said: “My mission is to help all small businesses nurture positive and lasting relationships with their customers that work in the best interests of both.”