The collapse of construction company Carillion has exposed notable issues being faced by the smallest companies in a supply chain on receiving payments.
Carillion was able to stave off signs of its financial difficulties by consistently paying its suppliers late. In July, the Federation of Small Businesses (FSB) challenged the company on its practices, pointing out the company had signed up to the UK Prompt Payment Code (PPC).
The PPC, from the Chartered Institute of Credit Management, has been signed by more than 2,000 companies.
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