It’s about time the industry embraced 30-day payment terms

2021-01-22T06:00:00

This week’s move by the government is an overdue one, says Beard chairman Mark Beard

During the first national lockdown, almost a year ago, we looked to our business partners for support in adapting to the dramatic changes we were going through as an industry. Very pleasingly, we found our suppliers more than willing to work with us to overcome issues presented by the coronavirus outbreak.

We, and others, were able to draw on a bank of goodwill developed over years of prompt payment to suppliers at a time when it mattered most. That is why the changes announced by the government this week to the Prompt Payment Code and payment terms represent an excellent step forward for the industry as a whole.

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