Sherwood MP, Mark Spencer, has given his backing to the #FairPayFairPlay campaign which was launched by the FSB in February.
The FSB campaign makes a number of asks from the Government including enlisting the help of company Non-Executive Directors to ensure small businesses are paid on time and strengthening payment enforcement rules.
FSB research shows that the vast majority (84%) of small firms report being paid late, with a third (33%) saying at least one in four payments they’re owed arrives later than agreed.
Mr Spencer heard about #FairPayFairPlay campaign from Mike Watkinson, FSB Development Manager for Nottinghamshire and Derbyshire, and Michael Weedon, FSB Policy Representative for the East Midlands, following a meeting at the MP’s Spring Lane Farm.
Before he was elected as a Member of Parliament, Mark worked in the family business as a farmer, managing and running a farm shop and farm. As such, Mark is well versed in the needs of small businesses and what support they require.
Mark Spencer said: “As both a farmer and MP I know the everyday challenges facing small business and late payments for goods and services can be crippling especially when you are starting out.
“That’s why I am delighted to give my backing the Federation of Small Business’s #FairPayFairPlay campaign and look forward to working with the FSB to make late payments a thing of the past.
“Small Businesses are the lifeblood of the economy in both Nottinghamshire and the UK as whole and the Prime Minister and I will always bat for them. Since the Government has been in power, we’ve delivered over £10 billion of business rates support since 2016, including cutting small retailers’ bills by a third.
Michael Weedon added: “Here at the FSB we are very grateful to have Mark’s support on this vital issue and I am glad he took the time out from his busy constituency duties to hear our asks on stopping late payments.
“Our campaign hopes to achieve fair pay and fair play for small businesses and the self-employed. The reforms we are calling for are not the silver bullet that will end poor payment practices tomorrow but they will certainly go a long way to stamping it out.”