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Press Release

Published: December 13, 2022

The Business Secretary Grant Shapps has announced a review into payment practices to prevent small firms from being ripped off by larger companies and to ensure they receive payments from their suppliers promptly.

Late payments lead to cash flow problems, putting small firms at risk and which prevents them from growing according to a statement issued by the Department for Business, Energy and Industrial Strategy announcing details of the review. 

A consultation will be published in the coming weeks, allowing individuals, businesses, trade associations and other stakeholders to have their say. It will last for 12-weeks.

Robert Candy, Chief Executive of the Scaffolding Association, said: “Small businesses are heavily reliant on cashflow to allow them to cover their own costs which include significantly rising running and operational costs, supplies and staff wages.

Around 20% of the UK’s SME’s operate within the construction sector (circa 1million businesses) and all play a critical part to the overall success of the industry. Even the largest of construction businesses rely on these SME businesses and their workers.

I welcome this review and any measures which help towards protecting small businesses from unfair practices which risk their survival”.

Read full details of the review here: https://www.gov.uk/government/news/business-secretary-launches-review-to-prevent-small-firms-from-being-ripped-off-by-larger-companies

-ENDS-

Notes for editors

The Scaffolding Association is the UK’s largest dedicated trade association representing the Scaffolding and Access industry.

The construction sector employs 2.7millon people, contributes over £100bn to the UK economy which is 7% of Gross Domestic Product (GDP).

Press Contact: Chris Seaton – [email protected] or 07979 531464