Small businesses and finance leaders invited to unpack the toughest crackdown in a generation
London, UK – 6th August 2025 – The Institute of Financial Operations & Leadership (IFOL) has welcomed the UK Government’s newly announced measures to tackle late payments to small businesses — an issue that costs the UK economy £11 billion a year and causes 38 business closures every day. IFOL described the consultation as a long-overdue turning point for finance leaders and SMEs.
To help organisations understand the scope and impact of the consultation, IFOL will host a live learning session on 12th August 2025.
Late Payments Reform: What the UK’s Toughest Crackdown Means for Your Business
This free live session will unpack key elements of the UK Government’s late payments reform consultation — described as the toughest crackdown in a generation – and offer actionable advice to help SMEs get paid on time, especially by larger organisations.
The announcement sets out a package of reforms designed to enforce fairer payment practices and support small business cash flow. It includes stronger reporting requirements for large businesses, enhanced powers for the Small Business Commissioner, and a renewed commitment to transparency and accountability in payment terms.
Confirmed speakers include:
- Louise Graham, Chief Operating Officer and Head of Institute, IFOL
- Emma Jones, UK Government Small Business Commissioner
During the session, IFOL will explore:
- What the new late payments consultation includes
- Who has championed the reform and why
- When key elements will be implemented
- How penalties will be applied and enforced
- The top 5 tips for SMEs to secure timely payments
“Our customers and members tell us about the frustration and impact of late payments,” said Louise Graham, COO and Head of Institute at IFOL. “This consultation could be transformational for the small business economy – but only if businesses understand their rights and how to hold others to account. That’s why we’re bringing together leading voices to ensure finance leaders and operational professionals are fully prepared.”
Emma Jones, UK Small Business Commissioner, added: “Late payments cost small businesses time and money and we want to change that. This consultation, leading to hopeful legislation, will boost our powers to build a culture of fairness and financial respect. I look forward to joining IFOL’s session to help businesses navigate the change and speak up for their value.”
The live session is open to IFOL members and non-members. Finance leaders, AP and AR professionals, and SME business owners are encouraged to register in advance.
About IFOL
The Institute of Financial Operations and Leadership (IFOL) is a global education institute providing training, certification, and professional development for finance operations teams. With over 30,000 members and students in 14+ countries, IFOL supports careers in AP, P2P, AR, O2C, and Payroll through flexible online learning and a thriving professional community.
Press contact: communications@acarp-edu.org