Good Business Pays TV
We need to come together to stop late and slow payments that hit small businesses and hold back the UK economy.
Good Business Pays CIC was founded in early 2021 as a response to the growing cashflow problems for small businesses in the UK. We shine a light on "what good looks like" in terms of payment culture. To do this, we created the Fast Payer Awards, an annual accreditation and award given to companies that pay their suppliers fast (i.e. in well under 30 days) and pay almost all of their invoices within agreed terms (i.e. more than 95%).
GBP TV aims to highlight the issues created as a result of a culture of late payment, and importantly share good practice from across industry to promote discussion, debate and so we can all learn from the best and encourage others to improve their payment culture too.
Good Business Pays TV
Faster Payments for Business: Sony Music Entertainment
Sony Music Entertainment UK Limited was a 2022 Fast Payer Award Winner. Their Chief Financial Officer Christopher Crellin and Head of Finance Operations Tony Walled spoke to Terry Corby of Good Business Pays about how they achieved this.
We define a Fast Payer as a business that pays suppliers in less than 30 days (on average) AND who also pay over 95% of their invoices on time, over a rolling 12 month period.
To find out more, visit https://goodbusinesspays.com/
For more information, including company payment data, resources and campaign information, visit goodbusinesspays.com
