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Principles met

  • Enterprise and social economy

    We will promote community-based approaches to economic development that focus on supporting the creation of jobs, social enterprises and other businesses and providing an environment for co-operative and mutual enterprises to thrive.

  • Maximising social value

    We will support the development of a framework and criteria for social value, giving substance to the concept and supporting Councils with the tools to ensure better local social and economic outcomes.

Oxygen Finance working with Co-operative Councils

FreePay realises social value outcomes by helping councils accelerate payment to small and micro suppliers, getting cash to the local businesses that need it most.

The issue

Small and micro businesses are the lifeblood of the UK economy, but many struggle to get paid. FreePay delivers true social procurement, supporting local economies by treating suppliers fairly and responsibly, and in the process helping public authorities achieve their social value goals.

Unlike other products which levy a discount on suppliers, FreePay does exactly what it says: it allows public sector buyers to pay small business invoices early without charge. Over £1billion has been paid to local firms to date.

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