Eligible, small, local suppliers are automatically enrolled in FreePay to receive faster payment.
Vulnerable Citizens & Public Health Accounts For 40% Of Local GOV. 3rd Party Spend As a Result Of COVID
The 2020/21 Local Government Third Party Spend Almanac has shown overall spend by councils in England in 2020/21 reached £64bn.
PPN05/21: Moving focus away from traditional payment approaches can support both the buyer and their suppliers.
It is promising to see PPN05/21, released this month by HM Government, highlighting the impact and importance of payment terms.
The voluntary programmes, which include a FreePay option for smaller firms, help release liquidity into the supply chain.
It is estimated that on average the 5.9 million small businesses which employ 61% of the UK’s workforce are owed between £5,000 and £6,500.
Bristol businesses could benefit from a new early payment initiative designed to help improve cash flow during the current economic climate.
A report by the homelessness charity Crisis highlighted that 53% of Council and voluntary sector services have reported an increase in homelessness.
A recent article by the BBC highlighted how deaths caused by alcohol hit a new high during the first nine months of 2020.
Small businesses and workers look to national and local government for support in the face of the rapid business slowdown caused by coronavirus.
Oxygen is partnering with Intrum, Europe’s leading credit management services company to develop a modular payment and credit management solution for councils.