The awards, which cover all industry sectors and regions in the UK, recognise those who have demonstrated the best payment performance to their suppliers over the past year.
Small businesses are a vital growth engine for the UK economy, employing 61% of the private sector workforce and generating 52% of turnover, yet thousands go out of business each year due to cash flow problems.
Sellafield Ltd spends around £1.4bn with 800 suppliers each year and was one of just 270 organisations to receive the award in 2022.
Susan Lussem, Chief Supply Chain Officer for Sellafield Ltd, said:
"I'm proud that Sellafield Ltd has been recognised through the Fast Payer Awards. This is a testament to the commitment, diligence, and desire from teams all across the business to treat our supply chain partners fairly and with respect.
"It's pleasing to see another means by which Sellafield Ltd is acting as a positive corporate citizen for economies and communities."
Paying smaller suppliers predictably and reliably is something Sellafield Ltd has actively worked to improve in recent years.
Louise Firby, Head of Group Business Services for Sellafield Ltd, said:
"We understand how important it is to pay our customers on time, particularly our smaller supply chain partners.
"This has allowed us to maintain good relationships, enabling us to deliver further improvement and optimisation of our payment processes".
Terry Corby, CEO of Good Business Pays CIC commented:
"I am delighted to be awarding 270 companies with Fast Payer Awards this year, more than double the number we awarded last year. The Fast Payer award recognises the big businesses that are supporting their small suppliers, by making responsible payment practices a business priority.
"Good Business Pays publishes the payment performance of big companies to ensure transparency and accountability around how companies treat their suppliers. At a time when we are seeing a big reduction in the number of companies reporting of their payment terms, it's heartening to see there are still good businesses like those in our Fast-Payer list. These companies are paying their bills fast and on-time. They are key to helping ensure the health of our small business economy."
