We are extremely excited to announce that we have become a Fair Payment Code (FPC) Gold Awardee for demonstrating best payment practices. Launched in December 2024, the Fair Payment Code is managed by the Office of the Small Business Commissioner on behalf of the Department for Business and Trade.
The tiered system of Awards is aimed at awarding best practice and driving improvements in payment performance. Gold Awardees pay at least 95% of all invoices within 30 days alongside agreeing to abide by the Code’s principles of being Clear, Fair and Collaborative with their suppliers.
Our wonderful CEO, Matt Turner, expressed: "From the beginning, I've always prioritised best payment practices, knowing that a healthy cash flow is essential for any successful business. When one party doesn’t pay promptly, this has a ripple effect on cash flow and future profit. Plus, as an Export Champion dedicated to sharing my expertise in international trade, I believe fostering a culture of fair payment is not just beneficial for local businesses - it strengthens global economies. Fair and timely payments create a more sustainable and thriving business environment, both at home and abroad."
Healthy cash flow is critical for small business survival and growth. Late and long payment times disrupt the cash flow cycle and can prevent a business from paying its bills, eventually leading to business failure. In 2023, 15% of small businesses and medium sized enterprises cited cash flow and late payments as an obstacle to running their businesses.
Liz Barclay, Small Business Commissioner said: “Congratulations to Creative Pod on their Gold Fair Payment Code Award. Everyone benefits when suppliers are paid quickly and fairly, and they thrive. Embedding a culture of fair payment practices in your business is good for your own bottom line as well as for the economy, communities and wider society.”
Matt Turner, along with one of our talented Marketing Executives, Mia Richards had the opportunity to attend the inaugural Fair Payment Code Awards event on Thursday 27th of February at the Institute of Directors. It was a fantastic evening celebrating the first cohorts of Gold, Silver and Bronze Award recipients and being around those who share the same values and follow best payment practices.
Do you want to work with an agency who pays on time and is fair? Then get in touch - hello@creativepod.net.
