A NORTH-EAST construction firm has backed a business organisation's call to speed up payments between companies.
Esh Group, based in Bowburn, near Durham City, says it supports the North-East Chamber of Commerce's (NECC) response to a Government late payment consultation.
The consultation outlines plans to mandate prompt payment down public procurement supply chains.
Brian Manning, Esh Group chief executive, said: “We monitor closely our payment days to suppliers and sub-contractors to ensure our businesses are paying promptly.
“Supporting the supply chain is vital in the current climate as it generates loyalty and goodwill, which no doubt will give a commercial edge.”
Rachel Travis, NECC policy advisor, added: “Prompt payment is vital to businesses and supply chains.
“Without quick and effective action, the severe administrative and financial burdens late payment places upon businesses will slow investment, employment and damage economic growth.
“There are North-East firms taking the lead on challenging late payment and recognising that paying suppliers on time is a competitive advantage.
“The Government and the public sector more widely should recognise the contribution these companies can make to the prompt payment agenda.”