Last chance to take ASBFEO payment times survey

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, is urging small businesses to take the payment times survey before it closes on Friday.

Carnell is particularly keen for more representation from small businesses and family enterprises in rural and regional areas.

“We know some of the worst payment practices are directed towards rural and regional businesses and we need to understand the length and frequency of these practices,” Carnell said.

“Extending payment times for suppliers effectively uses the businesses in the supply chain as a cheap form of finance.

“Small business should never have to act as a bank for big business; helping to finance large Australian and multinational companies.”

The ASBFEO’s 2017 Payment Times and Practices Inquiry identified a growing trend for companies to delay and extend payments to their suppliers, with typical payment times of 30 days moving out to 45, 60, 90 or 120 days.

“If your small business or family enterprise has experienced late or extended payments, please go to our website and fill in the survey,” Carnell said.

“It will take less than five minutes to do and will help us gather vital information to present to Minister Cash, to help small business owners and family enterprises to stress less about their cash flow.”

Take the Payment Times Review survey

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Cec is the managing editor of KBB. She is a multimedia professional with over fifteen years experience as an editor on titles as diverse as SX, CULT, Better Pictures, Total Rock, MTV, fasterlouder, mynikonlife and Fantastic Living. She has spent the past four years working as a news journalist covering all the issues that matter in the political, health and LGBTIQ arena. She is the Head of Content at Pinstripe Media and a recent convert to the world of small business.

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