Let’s Do Business Group has had its ‘Gold’ status under the Fair Payment Code renewed until 2028, along with our subsidiaries Let’s Do Business Finance and Let’s Do Marketing, with 98% of payments made within 30 days, and 100% paid within 60 days.
The Fair Payment Code was launched by the Office of the Small Business Commissioner in December 2024, replacing the former Prompt Payment Code. It was created to address the damage that long and late payments make to small businesses, and to encourage organisations across the UK to pay promptly, supporting economic growth and protecting businesses from avoidable hardship. Its tiered award system of Gold, Silver and Bronze recognises organisations that follow fair payment principles and keeps the issue of late and missed payments in the spotlight.
Gold is the highest tier and is only awarded to organisations achieving over 95% of payments being paid within 30 days, so renewing our status means a great deal to Let’s Do Business Group. In the last year, we’re delighted to have received the status with 98% of our payments being made within 30 days – and 100% of payments being made within 60 days.
Paying promptly isn’t something we do to tick a box. As a business support and finance provider, we see first-hand how much a single late payment can affect a small business’s cash flow, and how that can hold back growth.
“Renewing our Gold status under the Fair Payment Code is a real endorsement of the standards we hold ourselves to. As a business support and finance provider, we see first-hand how late payments can affect a small business’s cash flow and long-term growth, so paying promptly is simply part of practising what we preach.
We hope as the Fair Payment Code gains more traction, more organisations will follow the Code’s principles and make a difference to the businesses around them.”
The Code’s principles of Clear, Fair and Collaborative sit naturally alongside the way we work. Across Let’s Do Business Group, Let’s Do Business Finance and Let’s Do Marketing, our aim is to remove barriers to growth and help businesses reach their potential. Paying our own suppliers and partners promptly is part of that.
Renewing our Gold status is a credit to our team who keep our payment processes running smoothly, and we hope it encourages other organisations to look at their own payment practices and aim for Gold too!
