Poor payment methods come in a variety of shapes and sizes. Late or missed payment or extended invoice contractual terms (for example, payments in 60/90/120 days) impact the well-being and mental health of small and micro-business owners, regardless of the circumstances in each situation.
Small companies that are harmed by late or non-payment of bills, unfortunately, typically prefer to ignore the situation. The essential purpose is to maintain positive working relationships with the client who pays the bills, mainly if further work is on the horizon. This is especially significant for freelancers who operate in typically quite competitive fields.
What to do if you don’t pay an invoice?
What can you do if you or a loved one becomes ill? company management is dealing with a recurring payment issue? Is there anything you can do, or any aid you can get, to help you repeatedly pursue late payers? And who could be there to support you if things don’t work out?
That money is properly yours if payment has been promised and signed contracts. If it isn’t forthcoming and the buyer refuses to pay, you may need assistance. Knowing where to go for such service may be difficult, especially when you’re also trying to run a successful company.
This is where we can help. The Small Business Commissioner’s Office (OSBC)), staffed by experienced caseworkers and directed by management with years of experience in the small business and payments sectors, focuses on addressing insufficient payment practices between small and big enterprises.
We provide information and guidance to significant corporate stakeholders and collaborate with them. We want to keep payment concerns at the forefront of business conversations in the United Kingdom. The OSBC also makes a concerted effort to guarantee that small companies have access to reliable information via the Office’s website and our casework staff.
The OSBC often deals with the following issues:
- support for dealing with delayed or withheld payments
- advice on how to take steps to avoid payments becoming late
- guidance on the most appropriate way to approach invoicing and cashflow management
The OSBC website is an excellent resource for small company owners seeking essential assistance and information on the more legal aid the Small Business Commissioner and her staff may provide in a complicated dispute.
Late payments are a bigger problem for SMEs now than they were a year ago.
Currently, the Small Company Commissioner’s responsibilities are limited to resolving disputes between small corporate suppliers and more significant business customers. The OSBC team, on the other hand, may serve as informal mediators between disputing parties and provide information on alternative types of financial and legal assistance. Not all of these services are provided by the government; the OSBC may also assist small enterprises in connecting with local and third-party organizations.
The OSBC’s skilled caseworkers can help with:
- general information and help on settling payment problems
- a service that directs you to more resources and conflict resolution options via the OSBC’s website
- A complaints investigation agency looked into cases of insufficient payment practices between small firms (those with 50 or fewer employees) and its more prominent corporate clients (those with more than 50 staff).
The OSBC has the authority to offer recommendations and assist with conflict settlement about specific complaints. The OSBC’s services are free, and if desired, investigations would be handled confidentially.
Anyone who files a complaint with the OSBC will have their case evaluated by an expert caseworker, who will function as a single point of contact throughout the process. There’s no need to repeat a narrative, and you’ll be kept informed about any conversations the Commissioner and his colleagues have with your debtor organization.
Since its inception four years ago, the OSBC has recovered about £8 million in debts owed to small businesses due to more prominent companies’ poor invoice payment practices. We have a track record of negotiating favorable outcomes for small companies facing invoice payment issues, and we have backed choices that have benefited the small firms involved significantly. The organization endeavors to prioritize small companies and successfully advocate on their behalf.
The OSBC is on Twitter, Facebook and LinkedIn, and conducts regular audits of the advice and guidance provided on its website. The casework team can be contacted on 0121 695 7770 between 09:00-17:00 (Mon-Thurs) and 09:00-16:30 (Fri), or via email at enquiries@smallbusinesscommissioner.gov.uk.
