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|Conciliation Service will do little to solve late payment problem|
|Tuesday, 19 May 2015|
Secretary of State for Business Sajid Javid has today confirmed the creation of a Small Business Conciliation Service to help settle disputes between small and large businesses, especially over late payment practices. This will form part of the government’s new Enterprise Bill. Charles Wilson, CEO of Lovetts the commercial debt recovery legal firm welcomes the move but fears the service will help only a small proportion of firms struggling with late payment of their invoices.
Charles Wilson says: “Just 1% of the debts coming to us for legal intervention are disputed so while this measure is a step in the right direction, it is not really addressing the problem.
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