FRC Group have signed up to a Government initiative, the Prompt Payment Code which is viewed as the gold standard for payment practices. It means that we pay 95% of small business supplier invoices within 30 days or according to agreed payment terms if less so treat them fairly. We also commit to pay 95% of all invoices (from large and small suppliers) within 60 days.
From our customers’ perspective, it gives them confidence that we adopt good practice with our supply chain and shows that we share the same values as them as many of our customers are now also signed up to the Code.
Finance Director, Tony Rowan commented:
“As a small but rapidly growing organisation ourselves, we know the importance of receiving timely payment from customers and always try to pay our own suppliers on time, particularly small suppliers. We recognise the important role our suppliers play in enabling us to deliver our services and this partnership approach has contributed significantly to the growth we’ve experienced in recent years. As a result, we are pleased to sign up to the Prompt Payment Code and in doing so, demonstrate the value we place on our suppliers and our commitment to making prompt payment.”
About FRC Group – https://www.frcgroup.co.uk/
FRC Group’s vision is of a society where people can obtain good quality, affordable furniture without experiencing the devastating impacts of furniture poverty – no bed to sleep on or unmanageable debts.
Our social mission is to reduce and ultimately eradicate furniture poverty, so we campaign to raise awareness of furniture poverty and create practical solutions to get furniture to people who need it. We work to also create sustainable employment and better futures for people.
Our Objectives are to:
- Understand and highlight the reality of living in ‘furniture poverty’.
- Lobby and campaign for the eradication of ‘furniture poverty’.
- Develop and run successful social businesses that tackle furniture poverty.
- Train and develop people out of poverty and into sustainable, well paid jobs and careers.
- Use our core skills to develop and run successful and sustainable commercial businesses Buckingham Interiors and FRC, using the profits to create social value across FRC Group.