Published: November 7th, 2025
Businesses across the Marches are being urged to sign up to the new Fair Payment Code – to help make life easier for small businesses across the country.
The code – which replaces the Prompt Payment Code – is a tiered system of awards aimed at encouraging all businesses to pay suppliers fairly and quickly.
Government figures show that late payments cost the UK economy almost £11 billion per year with 14,000 businesses closing each year because of them.
There are no charges associated with being part of the Government-backed code, which comes with gold, silver and bronze categories.
Businesses can apply for whichever level of award suits them best. They are:
- Gold Award – for those firms paying at least 95% of all invoices within 30 days
- Silver Award – for those paying at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses within 30 days
- Bronze Award – for those paying at least 95% of all invoices within 60 days
Every business granted an award must abide by the code’s principles of being clear, fair and collaborative with their suppliers.
Emma Jones, Small Business Commissioner, said: “Code awardees are leaders in fair and quick payments, getting money moving through the economy and encouraging growth in supply chains.
“I want to see more businesses applying to the code so we can continue to build a positive payment culture where paying on time is simply seen as the right thing to do.”
Since launching in December 2024 more than 400 businesses of all sizes and across a huge range of industries have become code awardees.
Awards are valid for two years and every business needs to reapply for their award at the end of each two-year period. The best time to apply is between September – December to ensure you get a full two years but applications are accepted throughout the year.
The Fair Payment Code is administered by the Office of the Small Business Commissioner on behalf of the UK Government.
For more information visit https://www.smallbusinesscommissioner.gov.uk/fpc/
