ALT Graphic reads: The Fair Payment Code is our response to all those suppliers who begged for a more aspirational, robust and ambitious approach to changing the business to business payment culture in the UK. It also gives a clear signal of intent on the part of Government. We want suppliers paid within 30 days with payment beyond the due date a rare event. We want longer contractual payment term to be recognised as potentially detrimental to vital supply chains. We want businesses of all sizes to commit to fair and quick payments and to avoid harmful disputes. This new Code will drive a better payments culture and benefit everyone.

ALT On the right of the graphic there is an image of Liz Barclay, Small Business Commissioner. On the left is a quote from her: "We need sustainable, resilient businesses at all levels of the supply chains, to achieve the growth the economy needs. That means paying everyone from the largest supplier to the sole trader quicker, so they have the confidence to invest, improve productivity and grow. Fair payment terms and on time payments are the key."

ALT The graphic has a sea blue background. In the left corner is the OSBC logo. Below it is a gold question mark icon. Beside it, is text that reads: Many of you may have questions about the launch of the new Code. Please refer to our FAQs page. In the top right corner is a call to action for users to follow the FAQs link.

ALT On the right of the graphic there is an image of Gareth Thomas, Small Business Minister. On the left is a quote from him: "Small businesses deserve to be paid on time, it’s as simple as that. I’m optimistic that today’s first big step will help pave the way for real change that supports SMEs to thrive and help to grow our economy."

ALT On the right of the graphic there is an image of Liz Barclay, Small Business Commissioner. On the left is a quote from her: "I am delighted to announce a new Fair Payment Code will be launched this autumn. The new code will reward businesses that treat their suppliers fairly and pay them quickly. It will also include an ambitious new Gold Award which aims to make 30-day payments the new standard for which businesses can aim."

ALT The graphic has a sea blue background. A bronze border surrounds the content inside the graphic. Inside the border the OSBC logo is in the top left corner and below it is a bronze medal. Beside it is text that reads: Bronze Standard Award for the Fair Payment Code. Your business has to prove it pays at least 95% of all invoices within 60 days.

ALT The graphic has a sea blue background. A silver border surrounds the content inside the graphic. Inside the border the OSBC logo is in the top left corner and below it is a silver medal. Beside it is text that reads: Silver Standard Award for the Fair Payment Code. Your business has to prove it pays at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses paid within 30 days.

ALT The graphic has a sea blue background. A gold border surrounds the content inside the graphic. Inside the border the OSBC logo is in the top left corner and below it is a gold medal. Beside it is text that reads: Gold Standard Award for the Fair Payment Code. Your business has to prove it pays at least 95% of all invoices within 30 days.

ALT The graphic has a sea blue background with gold, silver and bronze medals at the top. In the bottom right corner is the Small Business Commissioner logo. The text in the graphic reads: Later this year the Prompt Payment Code will be replaced by the Fair Payment Code.

ALT Mental Health Awareness Week. Mental Health UK found four fifths of small business owners experience common symptoms of poor mental health at least a few times a year.

ALT The impact of cyber security on businesses. A pie chart with the figure 50%. 50% of businesses report having experienced a form of cyber security breach or attack in the last 12 months. £1,205. The single most disruptive breach from the last 12 months cost each business, of any size, an average of approximately £1,205.

ALT Small Business Commissioner with Iain Mcilwee FIS, Tom Ahmad IP and construction entrepreneur Paul Gaughan.

ALT April, Monthly Insights

ALT The last day of the old tax year is popular for making resolutions. I am cynical. I admit it. So when I saw research from QuickBooks showing that potential customers are planning to take actions, that could increase their sales, my inner cynic yelled ‘sales pitch’.

ALT Tool Up: Act immediately if you don’t get paid. If the due date has passed, and you haven’t been paid, don’t delay acting immediately. Image of a woman on the phone and four golden arrows pointing up.

ALT Tool Up: Make sure your invoice is payable. If an invoice isn’t correct there will be the risk that your payment will be delayed and sometimes not paid at all.