According to new data from Federation of Small Businesses (FSB), more than 5 in 10 small and medium enterprises (SMEs) were paid after the agreed date by large companies in 2013.

As a result, FSB has urged the government to bolster the Prompt Payment Code (PPC) which, if re-launched, would make it easier for SMEs in the UK to complain about late payments and change the culture among large firms who time and again pay late or try to extend their payment terms.