The latest thinking, news and events from the world of Recruitment

New Rules to Prevent Big Businesses Stopping SME Suppliers from using Invoice Finance

SHARE
,

Small Business Minister Anna Soubry announced on Sunday (August 9) that so-called ‘bans on assignment’, which are often imposed on smaller supplier businesses by larger customer businesses, will be nullified from early 2016.

The ABFA says that these clauses are an example of poor payment practice, and an unfair and unnecessary restriction on the ability of small businesses to access crucial funding to support their growth.

Jeff Longhurst, Chief Executive of the ABFA, comments: “We welcome the Government’s commitment to addressing poor payment practices and getting a fairer deal for Britain’s small businesses.”

SOURCE: ultimatefinance.co.uk