GoCardless partners with Federation of Small Businesses to tackle late payments

By Gloria Methri

The Federation of Small Businesses (FSB) has partnered with GoCardless to offer its members practical tips and advice on avoiding late payments.

As part of the FSB GoCardless Late Payments Hub, GoCardless will provide information and guidance to help FSB members take control over when and how they get paid. FSB members will also benefit from cost savings and support when signing up to GoCardless, subject to eligibility criteria.

FSB campaigns for measures to curb poor payment practices by large companies to small businesses.

Nicola Hamilton, VP of Marketing, Brand & Communications at GoCardless, said, “Small business owners are waiting too long to get paid, and the cost of receiving what they’re owed is simply too high. Hours spent chasing payments quickly add up, and small business owners often opt to let a late payment go rather than having that awkward conversation with a customer. This needs to change. We’re excited to work closely with FSB to put small business owners back in the driving seat when it comes to collecting their hard-earned money.”

Caroline Lavelle, Chief Commercial Officer at FSB, said, “Small businesses are the backbone of our economy, but for too long, their growth has been stunted by the scourge of late payments. Late payments can affect mental well-being alongside the financial strain. While there are wider issues at play, which FSB is campaigning to address, there are practical steps that many small businesses can take right now to reduce the burden on their bottom line. I hope this new online hub will be a welcome resource to help our members with their financial well-being.”

GoCardless makes it easier for businesses to manage their payments by collecting one-off and recurring payments via Direct Debit and open banking. Founded in 2011, the global FinTech now processes more than $35 billion of payments each year.