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New business secretary Sajid Javid has announced an Enterprise Bill that will include the establishment of a Small Business Conciliation Service to deal with late payment.
The service, outlined in the Conservative manifesto, will “help settle disputes between small and large businesses, especially over late payment practices”.
“Small firms are owed over £32 billion in late payments, but many of them are not aware of their rights or are reluctant to launch legal challenges,” said the Department for Business, Innovation & Skills.“This service will build on the existing suite of measures to tackle poor payment practices. Read more at Supply Management