The problem of slow payment has not been improved by the government’s Late Payment Act, according to a survey of credit managers. The research, carried out by the organisers of the Credit 2000 conference, showed that 82% of credit managers believe the act has ‘done nothing’ to improve late payment. Interviews with 13 companies turning over £100m, show that even they have not improved the speed with which they pay invoices to smaller suppliers as a result of the act.
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