Business News
How late payments hinder SME growth
Late payment is the ‘single biggest impediment’ to small business growth, Chamber members in Lichfield and Tamworth have been told. Former small business commissioner Paul Uppal (pictured) was speaking at the annual meeting of the Lichfield and Tamworth Chambers of Commerce at Drayton Manor Park Hotel and was sponsored by the Tamworth office of accountancy firm Haines Watts. Mr Uppal, who left his job shortly
after the meeting, said that since launching in December 2017, the Office of the Small Business Commissioner has helped UK SMEs recoup around £5.5m in unpaid invoices. However, 45 per cent of SMEs are experiencing payment delays of up to three months and 14 per cent over six months. According to Mr Uppal, the certainty provided
by prompt payment can change the outlook of a business. He said: “We are convinced this (late payment) is the single biggest impediment on small business growth. If you’re a small business and your cash flow is unpredictable, you’re not going to take on staff, you’re not going to increase turnover. This is not just an ethical argument - there is an economic win here.” The Office of the Small Business Commissioner’s work aligns with
the Lichfield and Tamworth Chamber of Commerce’s ‘Pay In 30 Days’ pledge – an initiative introduced by president James Blackman to encourage local firms to pay suppliers on time. Mr Blackman said: “As a Chamber that strongly advocates prompt
payment through our ‘Pay In 30 Days’ pledge, we applaud the work that Paul Uppal and his office do to support SMEs. “We were delighted to welcome him to our AGM and it was
interesting to hear his perspective on the impact late payment is having on both small businesses and individuals.”
• More Lichfield and Tamworth news – Page 54
Business is on a mission to put mental health first
By Jessica Brookes
A Burton woman, who is on a mission to help people in her community with mental health problems, has founded her own business. You1st, owned by Lorna Smith,
provides support to those with mental health issues, learning disabilities and who have suffered from trauma. She helps them grow their
confidence, get back into the community and provides emotional support, as well as helping them fill in forms related to personal independence payment and universal credit. She also helps them make appointments with GPs and others. Lorna said: “I called my business
You1st because I wanted to put each client first. Mental health is 24/7, and I wanted to provide a
Putting people first: Lorna Smith
service where I could exercise my passion for helping people to grow and feel more confident. “I wanted to provide a listening
ear that is non-judgemental, caring and understanding but also flexible. “I love what I do because I see
the change in each individual and see their confidence grow.”
November 2019 CHAMBERLINK 27
Do you have a hearing loss?
Do you know
someone who has a hearing loss?
Do you need help and support?
I CAN HELP YOU!
I am still losing my hearing and I do have a hearing dog, Harley who helps me. I know the isolation that deafness can cause.
I aim to empower a person with hearing loss, so that they can become an active member of society again.
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