We step in to support smaller suppliers with instant payments

North Yorkshire has agreed to pay all its small and medium size suppliers immediately in an effort to help ensure businesses do not collapse.

financial documents

Small and medium suppliers will receive instant payment – subject to bank clearing times – instead of the current 30-day period under arrangements being put in place by the County Council.  The Council aims to put the new payment rules in place until the end of 2020, with a review point in August.

County Councillor Carl Les, North Yorkshire’s Leader said: 'We are clear how important our supply chains are to our service delivery, and we want to be there for the smaller businesses that supply us and are crucial to the economic vitality of our county and country.   We will be doing our best to support them through this period, and in addition would urge them to seek the wider support available from central government.”

The Government is also announcing further measures to support small and medium-sized businesses. The county and district councils will communicate details of these measures as they are known.

This story was published 23 March 2020