60days.com, launched by print broker Trevor Tierney, provides a platform for businesses to highlight companies that are late with their payments. When informed of a company withholding money or late with its payments, 60days.com contacts the firm in question to ascertain the details of the debt.
Having done this, 60days.com then sends a warning to the comp-any withholding the money that unless the matter is resolved within 21 days, its name will appear on the website.
Tierney revealed that companies have been more willing to part with the money owed when faced with the possibility of being named on the site and following successful trials he felt sure the site would benefit the industry.
He said: “Small businesses face enough problems without bad payers and debts, and I found out the hard way that a County Court Judgment counts for nothing if someone doesn’t want to pay.”
“They (the company owed money) report a firm that is giving them grief but we delay the information being shown on the website for three weeks and tell the bad payer that’s what we’re doing,” explained Tierney. “This threat of naming and shaming seems to bring it home to the offender.”
Other options on the website include the opportunity for businesses to promote their products and services with a forum for discussing topics also available. 60days.com also incorporates a regular news service with further plans to name companies that give good service and pay up on time.
Rod Murdison, proprietor at Murdison & Browning, welcomed the power 60days.com could bring to smaller businesses. He said: “The website seems a very good idea. Most financial advisers and brokers are one and two-man bands so anything that helps David against Goliath is a good thing.”
