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Pay bills on time, firms told.

RESEARCH from the Better Payment Practice Group reveals that 85 per cent of UK firms believe that late payment is unethical.

The BPPG is reminding businesses that, as well as being ethically wrong, deliberately paying later than agreed can be detrimental for economic reasons.

BPPG member Peter Rowe said: "The BPPG would like all firms to be responsible about paying suppliers on time. This is crucial if the UK's payment culture is to continue improving.

"Businesses need to remember that prompt payment can be as beneficial to them as it is to their suppliers. The way businesses manage their purchasing and sales relationships can have a direct effect on their profit margins, as a commitment to prompt payment can result in more co-operative partnerships and a better service from suppliers, with more attractive credit terms."
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Title Annotation:Business
Publication:Coventry Evening Telegraph (England)
Date:Sep 12, 2003
Words:135
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