Our new report, Time for change: Payment Practices in Local Government, is now available to download.

Based on research conducted with 154 of the largest councils in the UK, representing 73% of local government spend, the report examines local government payment performance and the complexities around resolving the issue of late payment.

Late payment threatens the survival of thousands of small businesses each year, in 2016 more than £26m was owed to SMEs in outstanding invoices. Despite the progress councils have made in improving their payment performance, nearly two decades on from when late payment legislation came into force, the problem persists.

A typical council will process an average of 160,000 invoices each year and trade with an average of 8000 suppliers. Oxygen Finance explores the issues councils face in managing this heavy workload against a backdrop of unprecedented budget cuts and stretched resources.

The report also covers the benefits of taking action including supporting local economies, reducing contingent liability from late payment penalties and gaining sustainable savings and efficiencies.

Read our report