Coventry Best 4 Business

A new policy approach to tackle the situation on late payments has been announced by the European Commission.  The Commission suggests that public authorities should lead by example and should, as a rule, pay their bills within 30 days. In parallel, the Commission commits itself to speed up payment of goods and services so as to fully respect the targets for paying bills and, in a number of cases, even shortening payment times to under the current legal period.

The proposal involves substantial changes to the late payment directive (2000) and will improve the cash flow of European business which is particularly important in times of economic downturn.

It will also facilitate the smooth functioning of the internal market by eliminating related barriers to cross-border commercial transactions. This will be achieved by providing creditors with instruments that enable them to fully and effectively exercise their rights when paid late and by confronting public administrations with measures that effectively discourage them from paying late.

European Commission Vice-President Günter Verheugen, responsible for enterprise and industry policy, stated: “Late payment by public administrations should be no longer tolerated. Today’s proposal provides an important impetus to overcome the economic crisis by helping to avoid further bankruptcies and promoting businesses’ cash flow in order to reinforce the competitiveness of European enterprises in the long term.”

Following a meeting with Geoffrey Robinson MP, the BID Company issued the following media statement today:

Stephen Welch, Chief Executive said: "We felt it was an honest constructive meeting as the partners were able to explain several major points of the BID and where we are on several key aspects of delivery.

"The Coventry Best for Business Board, which represents the BID levy payers, had already prior agreed there is a need for a ballot on how the levy is used for their future benefit.  This is not a revote on the BID itself but an opportunity to give levy-paying businesses the chance to shape the on-going direction of the BID, in terms of its areas of expenditure. 

"As appropriate and in line with our business plan, the board anticipates making the necessary arrangements to commence this process during the latter part of this year but we will discuss that and other issues at our next board meeting in a fortnight.

"We are also looking at pin pointing several key dates on delivery to BID-paying companies and adding to our communications."

7 April 2009

• Sales up by 13% in February compared to last year
• January detox blown as alcohol sales rocket
• Romance alive as Britons buy Valentine’s presents online

Latest figures from the IMRG Capgemini e-Retail Sales Index show that the sector is continuing to show resilience, with 13% year on year growth for February. Growth has been consistent for the last 8 months, as e-retail continues to grow despite the numerous casualties on the high street.

However, retailers’ competitive online promotions in January and the toughening retail market, as well as the fewer trading days available meant that UK shoppers reined in spending online in February compared to January, with a monthly fall of 11%. UK retail sales overall reflect this trend.[1]

There will be changes to the rules governing business rates in England and the empty property rate-relief threshold from 1 April. Business rates in England have been revised for the year 2009-2010 and will be 48.5 pence for the standard multipliers and 48.1 pence for the small business multiplier. The threshold at which an empty property becomes liable for business rates will increase to a rateable value of £15,000.