Chuka Umunna MP, Labour’s Shadow Business Secretary, commenting ahead of Small Business Saturday and on the need to tackle bad payment practices, said:

“Building on the success of last year, Small Business Saturday 2014 will be even bigger and better, helping to provide a much-needed boost to our High Streets and making even more consumers aware of the fantastic products and services offered by small and independent businesses and the contribution they make.

“In recent years too often we’ve seen small firms suffer, having been hit by soaring business rates which have risen by £1,500 on average, which is why Labour has pledged to cut – then freeze - business rates.

“Labour has put forward a clear plan to tackle the scandal of late payment which has got worse under the Tory-led Government, including by ensuring late payers automatically pay interest to their suppliers, and outlawing bad payment practices such as firms being asked to pay for the right to be a supplier.

“Ministers had opportunity to back Labour’s amendments to the Small Business Bill which would have enacted these plans but rejected this, having failed to tackle these problems for four and a half years and let small businesses down. If ministers fail to act and support the action we’ve called for, it will be left to the next Labour government to put a stop to unfair treatment of suppliers.”