The Small Business Commissioner

Payment solutions for Small Businesses – SBC

The Small Business Commissioner (SBC) is an independent public body that was launched by the government in December 2017 under the Enterprise Act 2016. This office is aimed at empowering small businesses in resolving disputes around late and unfair payment issues. They can provide helpful advice, including on how to take action if a payment is overdue.

Due to the late payment culture that exists between different businesses in the UK, it means that:

  • a third of payments to small businesses (a business with 50 employees or less) are late.
  • the average value of each payment is £6,142.
  • 20% of small businesses have run in to cash flow problems due to late payments.
  • if small businesses were paid on time, this could boost the economy by an estimated £2.5 billion annually.

The SBC considers complaints from small businesses about payment problems they are encountering with larger businesses (with over 50 employees) and makes non-binding recommendations on how the parties should resolve their disputes.

They also provide general advice and information to small businesses on matters such as resolving disputes and dealing with unpaid invoices, checking contracts and getting invoices right, signposting small businesses to existing support and dispute resolution services.

The SBC is impartial, free to use and independent, but appointed by government.

To date the Small Business Commissioner has been able to retrieve £5.5 million in late payments for small businesses.

 

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For more information visit their website www.smallbusinesscommissioner.gov.uk 

Or call 0121 695 7770.

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