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The Independent UK
The Independent UK
Business
Anna Wise

New laws to fine businesses who pay suppliers late a ‘historic moment’, SMEs say

Starmer United Kingdom
The number of SMEs in Scotland has fallen, figures show (Alamy/PA) - (Alamy/PA)

Small businesses have hailed a clampdown on late payments as a “historic moment” with new laws set to fine firms that are the worst offenders.

Measures to tackle poor practices by firms when it comes to paying their suppliers were welcomed by the industry.

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