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21 Jul 2008
The Federation of Small Businesses has heavily criticised big companies for making their suppliers wait up to 105 days for payment.
The trade body became the latest organisation to pan big companies for holding out on their suppliers and also demanding discounts when they paid in a timely fashion.
John Wright, FSB National Chairman, said: 'Making small businesses wait 105 days for payment and charging them for the privilege of doing so is nothing short of outrageous.'
Alliance Boots was singled out recently after it informed suppliers that they may have to wait 75 days after an invoice comes up for payment to get their money.
Wright added: 'At a time when small businesses are finding it difficult to deal with a slowing economy and rising costs, it is shocking that large companies think it is acceptable to use them as an unofficial source of credit.'
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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