Originally written by Anna Jordan on Small Business
The Liberal Democrats released their manifesto yesterday (November 20) in the run-up to the next general election on December 12.
The party have dubbed themselves as the “party of business”, pledging to get rid of business rates and tackle the ongoing issue of late payments.
Sifting out the central promises for entrepreneurs, we hear what the industry experts think about the Lib Dems’ manifesto.
Late payments
‘Require all government agencies and contractors and companies with more than 250 employees to sign up to the prompt payment code, making it enforceable’
The Lib Dems hope to take on the scourge of late payments by enforcing large businesses to adhere to the Prompt Payment Code (PPC). It’s been well received by the business community.
Paul Christensen, CEO at fintech Previse, said:
“Jo Swinson’s promise is a welcome step in the fight against late payments.
“For too long, SMEs have suffered from slow payments that stifle their growth and cut off their cash flow.
“Slow payments don’t just hurt SMEs, however, but also large corporate buyers. The expensive financing of SMEs has to be built into the cost of goods and services that the corporate buys. Put simply, it is a very inefficient way to