Welcome to April’s Newsletter! Like many of you, for us at the OSBC, April marks the start of a new financial year. As me and the team look forward, we are thinking deeply about about the potential legislative changes ahead – maximum 60-day payment terms, mandatory interest, and new powers for the OSBC - and what this will mean for us as an organisation and of course the potential benefits for small businesses.
Meanwhile, the team remain committed to delivering support to the founders, sole traders and small businesses that require our services. So, here’s a reminder of what our “business as usual” looks like and what support is available to your business right now:
Enquiries Service: Last financial year we secured more than £1.5 million in unpaid invoices for small businesses. To see what my team has achieved for other businesses, see our success stories. If we can secure payment for these businesses, see if my team can support you: submit an enquiry.
Fair Payment Code: We now have 590+ Awardees on the Code – all committed to paying their suppliers fairly. See the Awardees Directory to check how potential customers pay their suppliers and how applying to the Code could benefit your business.
Fresh Guidance: This year we are refreshing our entire suite of guidance. See how you can embed strong practice into your business to secure quicker payment. You can also catch up on our new YouTube webinar series, where I interview CEOs and business leaders on how they are embedding fair practices into their businesses.
Online Marketplace Guide: Thinking of or already trading via an online marketplace? Checkout our guidance on how to choose the best platform for your business and which providers are working with us to support their small business sellers.
Business Growth Service: We know that accessing the range of Government support is not always easy. So, we are supporting the launch of the Business Growth Service, an online platform that brings government business support all into one place. The Service uses AI to tailor support to individual businesses, making access to finance, mentoring, and development programmes simpler.
SME Safaris / Engagement: And of course, our programme of engagement, including SME Safaris continues –taking policy makers into the trading spaces of small businesses, giving small businesses a voice directly into the heart of government to shape policy based on real-world conditions. See my write-up from this month’s Manchester visit Manchester on LinkedIn.
I hope to keep you updated as and when the proposed legislation progresses, but for now I trust these tools help to make your life easier and to keep going for growth.
Emma Jones
Small Business Commissioner
