One of our clients who is a freelance voiceover artist – we arrange all their monthly invoicing – mentioned that some of the Radio Stations and Production Companies have now signed up the Better Payment Practice Code. The aim of the code is for businesses to pay suppliers promptly.
This is a really good principle and I have always said to any of my clients it is best to pay bills regularly and promptly – not only does it help your business relationship, it helps the cashflow of the other business and it helps you as well. It is much more efficient and productive to be a prompt payer because if you leave bills they sometimes then take twice the time to deal with when it comes to reconciling them and actually you gain very little credit interest in your bank accounts these days. If your business wants to sign up to the practice then here is the link – http://payontime.co.uk
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