Yorkshire Water has announced that they have amended the way they pay the small and medium sized businesses they work with to help support them through the coronavirus outbreak.
From Wednesday 1st April 2020, Yorkshire Water has moved to pay all SMEs (with 250 employees or fewer) immediately, rather than the normal payment terms of 42 days.
The action is aimed at helping to boost the 251 small and medium sized businesses that the company works with on a regular basis during the Covid 19 emergency. Yorkshire Water currently spends £77 million a year with the SMEs that will be covered by the new payment terms.
Andy Clark, Head of Procurement at Yorkshire Water said:
“There’s so many different ways that we’re helping Yorkshire through these difficult times, and this doesn’t just include keeping everything flowing. By changing the way we pay our smaller suppliers, we can give them a quicker financial boost when they really need it the most. We work with a wide range of small and medium sized businesses across Yorkshire and further afield, and they all help in some way to keep our essential services going so it’s right that we support them during this important time.”
Some Yorkshire Water employees and contractors have been classed as key workers due to the vital role they play in providing water and wastewater services. The extra financial support to their wider supply chain will hopefully help increase their resilience during the coronavirus emergency.
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