Your payment reputation precedes you

As the Small Business Commissioner, I talk to businesses everyday who see value in paying promptly. Many have embedded being good payers into the culture of their business. They build relationships through paying fairly and treat their suppliers well.

I asked three business owners why they joined the Fair Payment Code. Here’s what they told me:

1. Proving business values

For construction company KBH Haus, their values sit at the core of their business culture. Commercial Director, Sarah Sinfield, speaks proudly of their “culture of transparency and accountability that benefits businesses, suppliers and the wider economy”.

This commitment to championing prompt and fair payment practices aligns perfectly with the Code. Sarah believes that “together, we can create a fair, transparent and sustainable financial future by promoting ethical payment practices”.

2. Building trust and relationships 

Rob Hubbard, CEO of consultancy firm Learning Age Solutions, knows successful businesses are built on successful relationships, not just the relationships you have with your suppliers but the relationships up and down the whole chain.

As Rob puts it, “no company operates alone – UK business is an ecosystem”.  Rob knows that business relationships are built on trust. When suppliers see that you are as good as your word, they trust you more. As he says, through “treating suppliers fairly, we can ensure that everyone flourishes, and growth is strengthened”.

3. Supporting the smallest businesses

Eric Marsella runs Translator UK – one of the first businesses to get a Gold Award. On joining the Code, he told us that freelance translators were the backbone of his business. They are experts helping Translator UK deliver the best service possible.

But in Eric’s words, “expertise alone isn’t enough to sustain a thriving freelance career – financial stability is just as crucial”. He views prompt payments “not as a courtesy, but as a responsibility” to the freelancers in his supply chain.

I am pleased that through the Fair Payment Code, we can reward these businesses, highlight the exceptional payers, and work with those who want to improve.

These are just three businesses on a Code with over 300 Awardees. If your business is committed to fair payment, join the Fair Payment Code today.

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