SME4Labour has made a major contribution to developing and campaigning so successfully for Labour’s policies. Our small business sector is the power-house of the economy, contributing nearly half of the UK’s income in the private sector. Small businesses are critical to boosting productivity levels so for sustainable growth, we need to support our entrepreneurs and small businesses as we build back fairer out of the pandemic.
“Late payments by large companies to their suppliers has a direct impact on SME’s productivity and sometimes on their viability. That’s why I have worked closely with SMEs in my campaign Be Fair – Pay on Time to tackle the scourge of late payments. I was pleased to see Labour’s manifesto promise to tackle late payments that leave small businesses and the self-employed waiting months to be paid, including banning late payers from public procurement. I am also keen to see ‘Project Bank Accounts’ established for public sector contracts which will protect small businesses should the prime contractor go bust.”
Debbie Abrahams MP
Member of Parliament for Oldham East and Saddleworth