TNT Sleaze bags at it again.

[POSTMAN]

UK: Small Firms Now Waiting Up To Four Months To Be Paid, FSB Reveals

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Small firms are waiting up to four months for invoices to be paid by several big brand names, including Bernard Matthews, Compass, Calsberg and Amazon, research from the Federation of Small Businesses (FSB) has revealed. Around 4,000 business failures were caused by late payments last year and one in three FSB members are waiting longer to be paid during the credit crunch.

A number of small businesses have contacted the FSB over the last year naming several large companies extending their payment times:

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Delivery firm TNT, food producer Bernard Matthews, and catering company the Compass Group have all told small firms to wait 60 days for invoices to be paid;
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Builders firm Jewson has done the same and is also charging a ten per cent settlement fee as a discount for paying within the 60 day period
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Shopping website Amazon has also extended its payment terms to 90 days with a two per cent settlement fee if paid in that time or 120 days without one;
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Courier company DHL is now charging three per cent for paying invoices on time; and
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Brewer Carlsberg has also changed its payment terms to 95 days from the end of the month of invoice, which could leave a small business owner waiting a total of 125 days for a bill to be paid

The FSB said it has written to these companies to explain how badly late payment affects the cash-flow of small firms, particularly during this economic period, and is urging them to sign up to the Government-backed Prompt Payment Code.

The FSB is urging businesses and agencies in both the public and private sector to sign up to the Prompt Payment Code to highlight best practice and help boost the cash-flow of small firms during these tough times. The FSB is also calling for Companies House to be given the power to name, shame and fine late payers and is calling on the Government to take on board a measure recently announced by the Scottish Government – a new clause requiring timely payment to sub-contractors working on Government projects.

John Wright, National Chairman, Federation of Small Businesses said, "Poor payment practices in both the public and private sector can drastically affect cash-flow for small firms at a time when business owners are doing their best to hold on to precious funds.

Larger organisations must be given a loud and clear message that they must stop using the recession as an excuse to use small firms as source of credit. The FSB would like to see as many private and public sector organisations as possible signed up to the Prompt Payment Code to ensure we can put an end to this plague and change the culture of late payments for good."

[pinstripe]

So if I go to Tesco and but my shopping, I can tell them to wait 2 months before I pay for it, and demand a 3% discount if I pay on time?
And they say that big business is good for the economy