The bill promises to cut red tape for business "by at least £10bn over the next five years" and to create a new Small Business Conciliation Service (SBCS) to help settle disputes between small and large businesses.
According to the latest research from BACS, small firms are owed more than £32bn in late payments, with more than three-quarters of UK businesses being forced to wait more than a month beyond their agreed contract terms.
New business secretary Sajid Javid said: "Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them.
"As business secretary I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs.
"As part of our long-term economic plan, we will sweep away burdensome red tape, get heavy-handed regulators off firms’ backs and create a Small Business Conciliation Service to help resolve disputes."
The department for Business, Innovation and Skills (BIS) said that many small firms were unaware of their rights on late payments or reluctant to launch legal challenges, adding that the SBCS "will build on the existing suite of measures to tackle poor payment practices".
Meanwhile, the BIS has expanded its red tape drive beyond Whitehall and will target independent regulators for the first time in its bid for a further £10bn in savings for businesses.
The government said it also expected the European Commission to announce its own proposals to cut red tape in Europe, following recommendations for reform for a UK-led business taskforce that the prime minister David Cameron lobbied hard for in Brussels.
Measures being pushed for include: a commitment to propose lighter regimes for small businesses in new EU legislation; greater independence for the Commission’s Regulatory Scrutiny Board; and improved consultation and impact assessments.
