A new survey by Goldman Sachs has found that 41% of its UK respondents say late payments from other companies has affected their growth, and a majority (89%) say they would support tougher legislation for big businesses on late payments. Goldman Sachs’ report, ‘The Small Business Manifesto’, notes that the ‘late payments crisis’ disproportionately impacts SMEs and suggests that an independent commissioner should be empowered to enact tougher penalties on those who miss payment deadlines. The UK has over 1.2 million small businesses operating for three years or more. Together, they account for £2.1 trillion in annual revenue and employ around nine million people. To read Goldman Sachs’ news release, go to https://www.goldmansachs.com/intelligence/pages/how-to-help-boost-the-uk-economy-with-a-boom-in-high-productivity-businesse.html.