The Small Business Commissioner has recently announced the appointment of two new members to its advisory board, Abigail Whittaker and Ryan Shorthouse. This decision comes as the Commissioner prepares for new powers to tackle the persistent issue of late payments in the business world.
Late payments have long been a major concern for small businesses, causing significant cash flow problems and hindering their growth and success. In fact, research has shown that small businesses in the UK are owed an astonishing £23.4 billion in late payments, with the average delay being 24 days beyond the agreed payment terms. This not only affects the financial stability of these businesses but also has a ripple effect on the entire economy.
In light of this, the Small Business Commissioner, Paul Uppal, has been given new powers to help address this issue and support small businesses in their fight against late payments. These powers include the ability to investigate and name and shame late-paying companies, as well as impose financial penalties on those who do not comply with the agreed payment terms. With these new powers, the Commissioner aims to create a fair and level playing field for small businesses, ensuring they receive the payments they are owed in a timely manner.
In order to effectively tackle this pressing issue, the Small Business Commissioner has appointed Abigail Whittaker and Ryan Shorthouse to its advisory board. Abigail brings with her a wealth of experience in finance and policy making, having previously worked for a number of government departments and organizations focused on small business support. Ryan, on the other hand, is a renowned economist and researcher, known for his work on small business finance and entrepreneurship. Their combined expertise and knowledge will be invaluable as the Commissioner works towards implementing the new powers to tackle late payments.
The appointment of Abigail and Ryan to the advisory board is further evidence of the Commissioner’s commitment to supporting small businesses. With their diverse backgrounds and extensive experience, they will provide valuable insights and advice on how to effectively use the new powers to tackle late payments and help small businesses thrive.
In addition to these appointments, the Small Business Commissioner has also launched a new website, making it easier for small businesses to access information and seek help with late payment issues. The website offers guidance and resources to help small businesses understand their rights and take the necessary steps to address late payments.
Speaking about the appointments, Small Business Commissioner Paul Uppal said, “I am delighted to welcome Abigail and Ryan to the advisory board. Their expertise and experience will be invaluable as we work towards creating a fairer business environment for small businesses. With the new powers at our disposal, we are determined to tackle the issue of late payments and provide much-needed support to small businesses.”
The news of these appointments has been met with widespread positivity and excitement within the small business community. Many see this as a significant step towards addressing the long-standing issue of late payments and providing much-needed support to small businesses. With the new powers and the expertise of Abigail and Ryan, the Small Business Commissioner is in a strong position to make a real difference and ensure that small businesses receive the payments they are owed on time.
In conclusion, the Small Business Commissioner’s decision to appoint Abigail Whittaker and Ryan Shorthouse to its advisory board is a commendable move towards tackling the issue of late payments. It shows the Commissioner’s determination to support small businesses and create a fairer business environment. With their expertise and the new powers at hand, we are hopeful that this will mark the beginning of a positive change for small businesses in the UK.
