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In this episode, we speak to Liz Barclay from the Office of Small Business Commission (OSBC), an independent public body set up by the UK Government to tackle late payment and unfavourable payment practices in the private sector. Liz is also a small business and consumer affairs broadcaster, producer and writer with an in-depth understanding of the issues facing small businesses. Our host Danny Gallagher chats with Liz about the important topic of cashflow; discussing what it really means, how to create better financial practices, navigating the challenges surrounding cashflow from late payments to working with third parties, and tips for addressing issues head-on. Liz offers important advice on financial planning which leads to a more stable business model, making it possible to pay suppliers and other expenses on time.
Anna Flockett and Liz Barclay discuss the work they do for small businesses
In the UK, small businesses are reportedly owed more than £23.4bn in unpaid invoices. That's an eye-watering amount that creates significant cash flow problems for many business owners. Late payment remains a big problem for SMEs, with many large businesses particularly bad at paying their small-business suppliers on time. This can have disastrous consequences. Research by the Federation of Small Businesses suggests that 50,000 UK businesses a year close down as a consequence of late payment. In this episode, former small-business and consumer-affairs broadcaster and writer, Liz Barclay, who became the Small Business Commissioner in 2021, talks about political, economic and business factors that could make late payment worse in 2022 and 2023, and what small businesses can do to limit the chances that it will affect them. Liz also shares her insight on chasing overdue invoices, charging interest and what legal steps you can take should late payment become a bad debt. Visit https://www.startupdonut.co.uk/podcast (Start Up Donut) for more help and information on selling online and join our https://www.facebook.com/groups/DonutSmallBusinessCollective (Donut Small Business Collective Facebook group) for tips and support from other start-ups and small-business owners. This series is brought to you thanks to the support of the https://www.fsb.org.uk/start (Federation of Small Businesses).
While the world's attention is focused on the conflict between Russia and Ukraine, about 440,000 or 8% of the small businesses in the United Kingdom face insolvency from cash flow problems arising from higher operating costs and difficulties in getting invoices paid on time. In this podcast, Liz Barclay, UK Small Business Commissioner, and RIABU's Mark Laudi, discuss the importance of the prompt payment code introduced by the UK government in 2008 to encourage large companies to commit to good payment practices, and how, barring a few outliers, the industry average of payment days has been improving. But Liz believes that more needs to be done. She emphasizes that a company's board of directors have an ethical responsibility to pay invoices on time. To safeguard the sustainability of their suppliers, it must be a strategic decision rather than an operational one. This, in turn, helps all stakeholders because it enhances the supplier's bottom line, which attracts more investors and qualified workers. On the other hand, small businesses or suppliers lack negotiation skills and make a variety of invoicing errors. Liz points out that while digital technology has helped many small businesses save time and minimise the number of invoicing errors, it isn't the ultimate solution for getting paid on time. They must be bold and confident enough to propel their business forward by negotiating better payment terms with their customers.
Liz Barclay is the Small Business Commissioner for the UK. She has a background in broadcasting and journalism specialising in small business, personal finance and consumer affairs and is author of several business books. She is also Chair of the Fair by Design Campaign (to tackle the poverty premium); and a non-executive Director of the Lending Standards Board and member of the Equity Release Council Standards Board. Until she took up the role of SBC Liz was a Financial Inclusion commissioner, an Ambassador for Business Debtline, a member of the Fundraising Regulator Standards Board and ran BackinBusiness.org.uk to give small businesses a voice with policy makers. She worked with Boards and small businesses on improving governance, trust and culture, inclusivity, employee engagement, and understanding customer behaviour. She is also a communication and presentation skills coach and chairs national and international conferences. Support the show (https://pod.fan/baachu-talk)
Honorary Scot Liz Barclay has a long history of campaigning for consumer justice and financial inclusion through her days at Citizens Advice, a distinguished career as a journalist and BBC Radio 4 presenter, and her seat on the Financial Inclusion Commission. Then in July 2021, Liz was revealed as the new UK Small Business Commissioner. The commission is an independent body set up by the UK Government to support SMEs by tackling the late payment practices of all too many big businesses. It's a huge problem for many smaller companies, with levels of late payment across the UK now totalling around £50bn. Liz Barclay is the perfect person to listen to on this topic, and a highly entertaining interviewee too. We also hear about her brushes with Duncan Bannatyne and Philip Green, her colourful Scottish connections and her truly extraordinary lockdown project. For the first time in 19 months, this Scottish Business Network podcast interview was recorded in front of an audience of real people in an actual room. It took place at London Scottish House on 7 September 2021, with Christine Esson expertly taking the interviewer's seat. www.allencomms.co.uk
Candidates for all the competing political parties in Wales are gearing up for the elections on 6th May. BackinBusiness invited all the main parties to put up a candidate to speak in the Welsh Small Business and Self-employment Hustings this week. Five candidates took part: Anthony Slaughter, Leader of the Wales Green Party; Sally Stephenson the Liberal Democrat Small Business spokesperson; Rhys Mills, Plaid Cymru's candidate for Islwyn and the fourth candidate on the South Wales East regional list; Russell George, the Shadow Minister for Economy, Business and Infrastructure for the Welsh Conservatives; and Lee Waters, the Deputy Minister for the Economy and Transport. Each was given the same amount of time to answer questions from the session chair Liz Barclay or submitted in advance by Welsh business people.
This week Liz Barclay talks to Ben Everitt MP for Milton Keynes North about the importance of innovation for the small business in his constituency and for driving the UK's economic recovery.
What makes Leeds a great place to start and grow a business? There's an important role for local authorities as Eve Roodhouse Chief Officer Culture and Economy at Leeds City Council tells Liz Barclay.
The Lib Dem Peer Lord Shipley Chairs the new House of Lords Youth Unemployment Committee. He talks to Liz Barclay about the challenges of creating jobs for the large numbers of young people looking for work, the skills firms need from those young people, and the important role of small businesses willing to innovate and create employment vital to the UK's recovery.
Steve Rotheram is the Mayor of the Liverpool City Region and has big plans for the future. Innovation is the key, skills are central to his thinking and while the funding is crucial he believes there's a lot the region can do for itself with small businesses at the heart of the recovery. He discusses his plans with Liz Barclay and Declan Curry and local business bosses Philippa Glover of CNC Robotics and Aston Fuller of Glass Futures.
Hear the BackinBusiness team, Liz Barclay, Declan Curry and Simon McVicker, react to today's budget announcement.
Standards are everywhere, making consumers' lives safer, fairer and easier. Whether we're using a mobile phone, shopping online or travelling abroad, standards behind the scenes are setting good practice for organizations that make goods and provide services.In this episode Matthew and Alan speak to Julie Hunter - an independent consultant specializing in consumer issues and CPIN Chair, and Liz Barclay - one of the country's leading experts on consumer finance and BSI Consumer Forum Chair, about the importance of consumer representation in standards-making.#bsiedpod. education@bsigroup.com. bsigroup.com/education.
Episode 11. Standards are everywhere, making consumers’ lives safer, fairer and easier. Whether we're using a mobile phone, shopping online or travelling abroad, standards behind the scenes are setting good practice for organizations that make goods and provide services. In this episode we hear from Julie Hunter - an independent consultant specializing in consumer issues and CPIN Chair, and Liz Barclay - one of the country’s leading experts on consumer finance and BSI Consumer Forum Chair, about the importance of consumer representation in standards-making. The BSI EDUCATION PODCAST is hosted by Matthew Chiles - Educational Development Manager at BSI, and Alan Sellers - Senior Compliance Manager at Dyson and Chair of BSI’s Young Professionals Advisory Panel. For more information on the themes raised in this episode go to: www.bsigroup.com/consumers www.bsigroup.com/autumn-standards-conference-UK/ And for more information on BSI Education go to: www.bsigroup.com/education. Get in touch with the podcast at education@bsigroup.com and share us on social media using #bsiedpod.
On top of new restrictions comes the Chancellor's latest thinking about schemes to save jobs and support businesses through the next wave of the pandemic. How effective will the measures be and who will be losers and who will be winners. Join Mickey Clark, Liz Barclay and Simon McVickers as they discuss the latest developments with Anthony Jordan, owner of party and wedding design company Tama Ra Event Designers, Dr Roger Barker, Director of Policy at the Institute of Directors (IOD), and Sam Harrison, owner of the Sam's Riverside restaurant and deli in Hammersmith London.
The team (Mickey Clark, Liz Barclay, Declan Curry and Simon McVicker) talk to the Shadow Chancellor, Anneliese Dodds, and business owner Jonathan Ratcliffe of offices.co.uk about the Government schemes to help small business, and steps needed to get out of Lockdown. Find out more about the Bounce Back Loan Scheme.
Peter and Dharmic's Victory Tour Featuring photographer Liz Barclay & Corey Smyth, producer of Dave Chappelle's Radio City Music Hall residency & manager for Vince Staples. Lots of jewels dropped, take note.
In this discussion, to accompany the Unlikely Leaders series, three OU academics discuss a modern approach to leadership and join the broadcaster Liz Barclay to debate the merits of their own nominations.
Transcript -- In this discussion, to accompany the Unlikely Leaders series, three OU academics discuss a modern approach to leadership and join the broadcaster Liz Barclay to debate the merits of their own nominations.
In this discussion, to accompany the Unlikely Leaders series, three OU academics discuss a modern approach to leadership and join the broadcaster Liz Barclay to debate the merits of their own nominations.
Transcript -- In this discussion, to accompany the Unlikely Leaders series, three OU academics discuss a modern approach to leadership and join the broadcaster Liz Barclay to debate the merits of their own nominations.
Transcript -- A discussion between three people with differing views on mental health recovery, chaired by Liz Barclay.
A discussion between three people with differing views on mental health recovery, chaired by Liz Barclay.
Transcript -- Two people with differing views on Mental Health as Business, in particular the use of medication. The discussion is chaired by Liz Barclay.
Two people with differing views on Mental Health as Business, in particular the use of medication. The discussion is chaired by Liz Barclay.
Transcript -- A discussion between three people with differing views on mental health recovery, chaired by Liz Barclay.
A discussion between three people with differing views on mental health recovery, chaired by Liz Barclay.
Transcript -- Two people with differing views on Mental Health as Business, in particular the use of medication. The discussion is chaired by Liz Barclay.
Two people with differing views on Mental Health as Business, in particular the use of medication. The discussion is chaired by Liz Barclay.