Driving improvements in business payment practices

Healthy cash flow is critical for small business survival and growth, as late and long payment times disrupt the cash flow cycle and can prevent a business from paying its bills. Last year 15% of small businesses and medium sized enterprises cited cash flow and late payments as an obstacle to running their businesses.

The new Fair Payment Code (FPC) has been launched by the Office of the Small Business Commissioner (OSBC) to encourage businesses across the UK to pay promptly. The new code introduces Gold, Silver and Bronze tiered Award categories underpinned by fair payment principles of being Clear, Fair and Collaborative with their suppliers. The tiered system of Awards is aimed at awarding best practice and driving improvements in payment performance.

One business which has been awarded is Prepress Projects and, Lucy Harrier, Managing Director, explains why below.

“At Prepress Projects, we believe doing the right thing is the only way to do business. So, when the opportunity arose to participate in the new Fair Payment Code, it wasn’t just a question of compliance or formality. It was a chance to show publicly that we live by the values we stand for: integrity, trust, good governance and long-term commitment to our staff and stakeholders.

Prepress Projects is proud to have been awarded the Fair Payment Code Gold Award, which recognises our consistent ethical payment practices and signals our wider business ethos to the community. For us, this is more than a badge. It’s a natural extension of the values we bring to every project, every client relationship and every internal policy.

Our mission at Prepress Projects is to help socially responsible organisations communicate complex ideas clearly, accurately and professionally. We work with clients who have a global public-good focus – from intergovernmental organisations to public agencies and academic institutions. Many of our clients are held to high ethical and procurement standards, and we take pride in aligning with those expectations.

Fairness is one of the core principles that underpins how we operate – not only in the services that we deliver, but also in how we treat people. Our values as a company include trust and valuing individuals, integrity and fidelity, protecting the future and doing the best we can – values that cannot be upheld if the businesses we work with are unfairly treated or left waiting for payment.

We see fair and timely payment as a cornerstone of good ethical business practice. It enables small suppliers and freelancers to operate sustainably. It fosters trust and long-term loyalty in our supply chain. It reflects sound governance, ethical leadership and financial responsibility. It’s not just the right thing to do – it’s also what makes sense for a stable, resilient business.

Committing to fair payment principles brings tangible benefits. Our prompt and reliable payment practices help us maintain excellent working relationships with our suppliers and freelancers — people who, like us, care about the quality and integrity of what they produce. It also makes Prepress Projects an attractive partner for clients looking for businesses that live up to high ethical standards.

Being recognised with the Gold Award under the Fair Payment Code strengthens our credentials in competitive tendering processes, particularly in the public and international sectors. Increasingly, procurement frameworks are asking suppliers to demonstrate not only financial capacity, but also good practice in areas like governance, social responsibility and ethical conduct. Showing that we meet and exceed expectations in these areas is crucial for our continued growth.

Internally, the Fair Payment Code aligns with how we already work. We don’t need to change processes to qualify — this recognition reflects how we’ve always chosen to do business.

Too many small businesses still face avoidable and damaging delays in payment – even from large organisations that could and should do better. These practices don’t just hurt companies and freelancers; they undermine trust, innovation and economic resilience across whole sectors and communities.

That’s why we believe it’s important to go beyond compliance and help create a better business culture – one that treats suppliers with respect, values their contribution and pays them fairly and on time.

By signing up for the Fair Payment Code and being recognised as a gold awardee, we’re not just saying, ‘we do this’; we’re also saying, ‘this should be the norm’.

Prepress will continue to advocate for fair, transparent and sustainable business practices, not only because they benefit us, but because they reflect who we are. We’re a values-led business, and we believe that doing things properly – with care, respect and professionalism – makes us a reliable partner and a responsible employer.

We’re proud to be part of the growing movement for fair payment, to hold a Gold Award, and to say that this is what good business looks like.”

For more information and to apply please go to the OSBC website: https://www.smallbusinesscommi...