The Press and Journal (Aberdeen and Aberdeenshire)
Payment clampdown hailed
ness across the region. James Hammerton, managing director of Pentland Construction, at Thurso, said: “As a construction business, cash flow is of the utmost importance to our day-today survival and we do our best to ensure that customers pay up
“Highland Council pays very promptly, as do many of our private customers, but from time to time we comeacross businesseswho do not and this can cause us grave difficulties. Anything the UK Government can do reduce late payment gets our support.”
Ross Dundas, of Aberdeen- based Rosco IT Solutions, said: “I had to wait 60 days for payment from one large, international firm. As a relatively new business, it could have been catastrophic and even now, I think twice before taking on a large scale contract, if the payment terms are unfavourable.”
Mark Chinery, of Peterhead firm Zincweb Internet, aid: “It’s difficult enough in the current climate to run a business, without adding the burden of carrying out work and having to wait months for payment.
“It’s a catch-22 situation; if you complain about extended payment terms, you run the risk of losing business, but without a healthy cash flow, your business can’t survive.
“I’d definitely welcome legislation that stops the scourge of late payments and ensures small businesses are treated fairly.” Ret a i l e r Mar k s & Spencer’s shares climbed 6.2p to 459.5p as traders cheered a marketingcampaigndesigned to bolster its ailing clothing arm on an otherwise downbeat day for the London market.
The FTSE 100 index shed 34.3 points at 6465.7 as it continued its slide.
Investors remain anxious over looming fears quantitative easing in America will begin to be tapered off from next month.
In Europe, Germany’s Dax was down 0.3% and France’s Cac 40 slid by nearly 1%, despite better prospects on the Continent, with the eurozone having come out of recession last week.
Steven McKay, of investment manager and financial-planning specialist Brewin Dolphin in Aberdeen, noted STV Group rising 6.4% to 171p, Faroe Petroleum adding 4.5% to 133.75p and Petrofac up 1.4% at £12.62. Amongthefallers Johnston Press finished down 4.3% to 17.75p, BG Group slid 1.6% to £11.64 and the Royal Bank of Scotland edged 0.9% lower to 339.9p.