Theresa May MP and Home Secretary debates impact of late payment of invoices with business leaders from Executives Association Thames Valley
Speaking at a lunch for business leaders from the Executives Association Thames Valley (EATV), Theresa May MP and Home Secretary confirmed that the government has no plans to introduce new legislation on one of the key issues affecting the success of small businesses – the late payment of invoices.
The topic was brought up by members of the EATV at a lunch hosted by the Association at Fredrick’s Hotel in Maidenhead on Friday 25th September. Theresa May, as the local Maidenhead MP, was the guest of honour and she used the opportunity to raise topics of interest to businesses in her role as Home Secretary as well as answer questions about the local economy.
EATV is a business networking group that is part of an international network with hundreds of branches across the world. The Thames Valley branch has members from across the region, who meet for regular business and social events throughout the year.
Late payment of invoices was brought up as one of the key areas to impact small businesses, with some large corporations proving the worst payers. Theresa May commented that although this was recognised by government as a key factor to the success and growth of businesses, there were no plans to introduce new legislation to change existing regulations. She agreed to feed back the overwhelming concerns of business leaders in the room to other government departments.
Speaking on the relevance of her role in the Home Office to businesses, she commented: “In the Home Office we help to set the environment in which businesses can thrive. This includes crime, in particular serious organised crime, economic crime and fraud. The Police find it hard to deal with fraud and so we have been looking at new ways to deal with it and we hope the new Economic Crime Command will have the skills and knowledge to be able to take this on.”
“Immigration is also an important area for the economy,” continued Theresa May. “We need to encourage those who want to contribute to the economy and discourage those who don’t. We have to get the balance right to ensure that UK citizens aren’t being denied job opportunities.”
“We are also addressing business visas to speed up the process of granting temporary visas – we now have a 24 hour turnaround priority for India and are looking at developing premium services for China and other countries,” she continued.
Addressing local issues, members of EATV asked about the development of Maidenhead town centre, Broadband in rural Berkshire and support for local businesses in ‘Keeping Business Local’.
“I shall continue to work towards the redevelopment of Maidenhead town centre,” said Mrs May. “I am particularly pleased to see plans moving forward to open up access to the waterways within Maidenhead as this will give a significant boost to businesses in the area. I am also delighted to hear about the ‘Keeping Business Local’ campaign – a thriving local economy is crucial the growth of Maidenhead and the local region.”
Sean Egan, Chairman of EATV commented: “We were delighted to have Theresa May as our guest speaker at our lunch meeting. She spoke about issues that impact businesses in her role as Home Secretary as well as addressing some key local concerns. Our members represent a cross section on businesses from across the Thames Valley and we very much appreciated putting our concerns and views directly to the Home Secretary.”