Hays Travel has qualified for a 2024 Fast Payer Award from Good Business Pays, joining only 5% of the UK’s 5,367 largest companies that report payment terms.
Good Business Pays has named the 275 companies to be awarded its prestigious Fast Payer Award 2024, which recognises companies that have demonstrated the best payment performance to their suppliers over the past year. With winners covering almost all industry sectors and regions of the UK, the award recognises big businesses that pay at least 95% of invoices on time and within 27 days or less, over the last 12 months.
Ken Campling, Finance Director of Hays Travel Group, said: “We are delighted that Hays Travel has received Fast Payer status. As a family-owned business, that began with one shop in 1980, we know that timely payments are essential – especially for smaller businesses – to maintain trusted business relationships and ensure the smooth operation of the supply chain.
“We are committed to paying our suppliers promptly – travel is a complex and fast-moving sector, with many moving parts. This accolade demonstrates our commitment to our suppliers of all sizes – an approach which encourages mutual success.”
Terry Corby, CEO of Good Business Pays CIC commented: “This is our fourth year of Fast Payer Awards, and we are seeing hundreds of large companies working hard to improve their payment performance to small suppliers. But only 5% of big companies are winning our Fast Payer awards so we have a long way to go.”
Backed by the Federation of Small Businesses, British Chambers of Commerce, CBI, and manufacturers group Make UK, the Good Business Pays movement was launched in May 2021 to encourage the UK’s largest companies to speed up payments to small suppliers, helping them bounce back and inject vital capital into the economy. The Federation of Small Businesses estimates 50,000 small businesses go under every year because of late-paying clients.
To see the full list of Fast Paying companies, visit goodbusinesspays.com
