Forgione has called on the Government and the Bank of England to speed up the invoice process for small businesses with many in the events sector having to wait up to 90 days to get paid.
Forgione said that the process is stunting growth and slowing economic recovery. "We want the Chancellor to introduce strict new rules on payment terms, which will free up SMEs to invest and grow their businesses. I’m calling on George Osborne to help SMEs in the budget by implementing clear, maximum payment terms of 30 days for large businesses working with their SMEs in the supply chain.
"We want them to put a limit on the maximum amount of time that organisations are allowed to delay payment, and that’s to be a maximum of 30 days. We want to see a full recognition that it is not acceptable in the UK for big business to force their supply chain, the SMEs, to bankroll their activities."
Marco Forgione will speak at this week’s International Confex, which takes place at London Olympia from 12-13 March, alongside small business ambassador, Karren Brady.
As well as this, for the first time in its history the event will feature a series of educational seminars where visitors can pick up CPD learning points.