Daventry District Council (DDC) has been revealed as one of the best councils in England for paying its suppliers within the target set by central government.
Research carried out by the Forum of Private Business (FPB) shows that DDC is in the top 10 local authorities for paying an impressive 89% of its invoices within the target of 10 days.
The Council also pays 98.9% of its bills in under 30 days and has received praise from the FPB, who have been using the research to highlight problems with prompt payments to businesses across the country.
Councillor Ken Melling, Resources Portfolio Holder at Daventry District Council, said: “We are very proud to be among the top 10 best local authorities in England for paying its invoices to suppliers.
“It’s very important in these testing economic times that all businesses are paid promptly and this demonstrates our ongoing commitment to help and support businesses whenever we can.”
Forum of Private Business Policy Adviser Robert Downes said: “Our research places Daventry 10th nationally, and third fastest regionally in the East Midlands area.
“Their payment practices should be a lesson for all, both in the private and public sectors, and we salute the finance department there for so clearly understanding the importance of prompt payment to small businesses. If only all councils could pay as quickly.
“Local authorities who recognise the need to pay supplier invoices promptly are doing their bit for the nation’s small businesses, and ultimately the wider economy.
“Slow payers disrupt firms’ cash flow and prevents them from taking on new work and new creating jobs. It’s a spanner in the works they don’t need. Prompt payment is therefore in everyone’s best interest, so well done Daventry District Council.”
The Forum of Private Business is a proactive business support organisation focused on the growth and profitability of small businesses. For more information visit www.fpb.org.