News and Events

Get Britain paying on time

12/02/2013

Pay on time supporterWith UK businesses reportedly owed more than £36 billion in outstanding payments, Hilton-Baird Collection Services has pledged its support to the campaign to stamp out late payment by becoming a Pay on Time supporter.

The ongoing problem of late payment is continuing to hamper the economy’s prospects for growth and recovery, with businesses of all sizes having to invest excessive time and resource into their credit management strategies.

The situation looks to have come to a head, with Business Minister Michael Fallon threatening to name and shame members of the FTSE 350 who refuse to sign up to the Prompt Payment Code and commit to paying their suppliers on time.

In January, Hilton-Baird Collection Services conducted its latest annual Late Payment Survey to assess how the situation has evolved over the past 12 months, as well as looking at how businesses are seeking to overcome this issue.

Keep an eye out for the results, which are due to be published early next month.