Late payments are a big issue for small businesses in the UK, and the government has been promising to tackle them for some time now.
Its most recent response to the problem was to launch the Finance Fitness campaign, which aims to help small and medium-sized firms manage their cash flow, maintain a good credit score and access the capital they need to keep themselves afloat.
Now business minister Mark Prisk is going a step further and setting up a new working group of business representatives who will examine the reasons behind late payment.
While the timely receipt of payment often depends on the willingness of large buyers to get invoices settled as soon as possible, there are also things that small businesses can do to help matters.
The politician urged SMEs to proactively agree payment terms before delivering their orders to buyers and to sign up to the Prompt Payment Code, which is run by the Institute for Credit Management.
He also called on small firms to use electronic invoicing "where possible" in a move some may see as a sign the government is finally realising the benefits if the technology.
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