Our most popular package is FSB Business Essentials which includes a whole range of benefits and products designed to make your business fly
A suite of legal benefits including a dedicated helpline, bundled insurance products and a range of online information to keep your business safe. Plus a whole range of negotiated benefits to help save you money and win business.
Our Business Creation package is designed to make starting a business simpler, allowing you time to focus on what's important - making it a success.
Specialist company formation benefits, access to FSB networking, business banking and a range of products to help get you setup in business.
Joining FSB Connect is free and is a great way to be part of the FSB Community and have your voice heard.
You'll be able to access specialist networking events with like-minded members of the community and have your say in our Big Voice survey panel.
Whatever your circumstances, we have a package to suit you and your business. Click the button below to see which benefits are included in each package and start your FSB journey.
'Within a few weeks of joining we'd taken advantage of FSB’s Online Legal Documents. We started a graduate programme and access to these documents gave us an understanding of the legal side, and has helped us to create a number of processes and procedures.'
'When we first took on a member of staff, we used the online legal document template library. FSB does more important stuff than you think it does, there are lots of member benefits, probably more than we actually use.'
'Having somebody like FSB behind you is fantastic. There is a whole team behind the organisations, whatever is required: support, advice, finance, you know that you’re not alone, you’ve got FSB.'
We represent a diverse range of businesses from retailers to marketing agencies and just about everything in between. Take a look at more member stories and see how we could help your business fly.
More Member Stories
We offer three packages to suit your business needs. Joining FSB Connect is free, our Business Essentials package starts at £172.50 in the first year and our specialist Business Creation package has an introductory price of £99 in the first year.
Late payment means reduced profitability, knock-on late payments to suppliers and reduced business growth. Thousands of small firms go bust each year purely because the cash flow dries up.
Out of 8,000 Federation of Small Business (FSB) members surveyed in 2014 who provided goods and services to larger private sector businesses, more than half had experienced late payments in the preceding 12 months. Sage Pay conducted its own research, showing that two-thirds of UK businesses had experienced payments stretching more than 90 days, with invoices worth £55 billion remaining unpaid or outstanding.
Through the Small Business, Enterprise and Employment Bill, currently before Parliament, the government is introducing a requirement on the UK’s large and listed companies to report on their payment practice and performance. This will provide more transparency through a tough new reporting requirement, and will help take significant steps to addressing the current imbalance in economic power between small and large businesses.
Until then, here are some things SMEs can do to ensure faster payments:
Creditsafe collects information on how quickly companies pay their invoices. Creditsafe’s customers share information and insights about payment times, highlighting poor payers and promoting best practice. There are more than one million companies on the database, providing a unique window into corporate financial behaviour. Armed with the data that Creditsafe can provide, SMEs can take better-informed decisions on whether to accept work or commissions from certain companies.
Be proactive and chase your suppliers for payment. Make it clear that you’d prefer to be paid electronically by digital transfer or Direct Debit, rather than by cheque. Also, if you’re waiting on a particularly large payment, don’t be afraid to make a courtesy call or write an email to the supplier to check they’ve received your invoice and that there are no queries about it.
You have a statutory right to claim interest on late payments at 8% over the Bank of England base rate. Additionally, you can claim compensation for debt recovery costs. Letting your customers know this as early as possible may encourage payment.
Minimise the risk of delayed payments by providing flexibility around credit terms. For example, set up a facility for payment by credit card and think about offering discounts, such as 1% for early payments. Remember to balance the extent of any discount with the benefits of having an improved cash flow.
Invoice finance solutions can be ideal for small businesses in need of an immediate cash flow injection. ‘Invoice discounting’ is essentially a cash advance against the value of your invoices. So when you raise an invoice you’ll receive 85% of its value from a financier within 24 hours. You’ll retain full control over credit management. The financier simply gives you cash up front and you pay them back, plus a small admin fee, when you receive payment. Find out more about ‘invoice discounting’
Click here to find out more about Sage One
Independent Financial Services provide unbiased, independent sound advice on personal and corporate financial planning to FSB members.
National Federation of Self Employed & Small Businesses LimitedSir Frank Whittle Way / Blackpool / FY4 2FE. National Federation of Self Employed & Small Businesses Limited (FSB) is registered in England, number 1263540