Federation of Small Businesses becomes the latest trade body to slam big companies for stretching out payments to suppliers to even longer times
Accountancy Age, 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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