Small Businesses
2026-07-22 · Department for Business, Innovation, Science and Trade · HL2758 · Official question
Question
To ask His Majesty's Government, further to the remarks by Lord Leong on 21 July (HL Deb col 1078), in which scenarios the Secretary of State would consider adopting a business-size definition different to existing definitions.
Answer
For the purpose of exemptions to maximum payment terms under the Commercial Payments Bill, the Government will consider aligning with business size definitions in existing legislation. Definitions of business sizes will be set out in secondary legislation...