Lichfield District Council have been named as one of the country’s fastest paying local authorities.
The local authority came fourth in a West Midlands table produced by the Forum of Private Business for paying its suppliers in fewer than ten days.
The survey revealed Lichfield District Council paid 94 per cent of its bills within ten days and 100 per cent of all bills within 30 days.
The figures saw the council receive an award from Lichfield’s MP Michael Fabricant.
“Having run a business before I became an MP, I am only too aware that cash flow, even more than profit, can make or break a company,” said Mr Fabricant. “Crucial to that is prompt payment by customers and I am pleased to learn that Lichfield District Council has been playing its part in keeping businesses, large and small, trading successfully.
“I was therefore delighted to be asked to present this award.”
Councillor Christopher Spruce, Lichfield District Council’s Assistant Cabinet Member for Finance Revenues & Benefits, added: “This award is in recognition of a great finance team that works hard to make sure we pay our bills on time.
“This is especially important in the current economic climate, as prompt payment helps businesses to manage their cash flow, and can sometimes make the difference between a business surviving or failing.”
