Continuing our commitment to small suppliers, our CEO Jon Lewis joined the Chancellor and other business leaders for discussions at Downing Street
Highlighting the need for large companies to make supplier payment faster, Philip Hammond gathered business leaders at Downing Street on 19 July [confirm date].
The former Chancellor, then Business Secretary Greg Clark and Jon Lewis joined representatives from the Federation of Small Businesses and senior business figures to discuss how big corporations could assist SMEs and microbusinesses with quicker supplier payment terms.
We've been playing a central role in tackling this issue by placing better treatment of suppliers at the heart of our transformation programme. Setting out clear commitments to our 35,000 suppliers, in June we produced our first ever suppliers’ charter.
While upholding the Government’s Prompt Payment Code, we also updated our supplier payment terms last October. Delivering on fairer treatment of our suppliers, we're now paying micro businesses (with fewer than 50 employees) within 14 days, and SMEs (fewer than 250 employees) within 30 days.
Speaking after the Downing Street roundtable, Mr Lewis said: “Treating our suppliers well – including paying them promptly – should be more than simply an aspiration.
“It should be fundamental to how large companies behave, demonstrating their commitment to the society in which they operate and the suppliers who help them deliver.
“I’m pleased both the Chancellor and Business Secretary have taken a lead on this area alongside the Federation of Small Businesses. We need to keep making progress – and Capita will be at the heart of that effort.”