Many businesses are facing extraordinary pressure on cash flow as a result of Covid-19, placing greater importance than ever on the issue of fair payment practices. Meeting the challenge will require larger businesses to collaborate with SMEs to make sure bills are paid on time right through the supply chain.

The government has implemented a number of initiatives in recent years to support small businesses. The latest consultation to increase the powers of the Small Business Commissioner (SBC) suggests that tackling late payments remains high on the agenda.