late payments
News

Late payments costing small business $776 billion annually

- March 6, 2020 2 MIN READ

Small business owners are waiting on average 56 days to be paid, despite recent pushes by the government and ombudsman to reduce payment times to 30 days, resulting in up to $776 billion in late payments annually. Independent research conducted by East & Partners on behalf of national small business lender Scottish Pacific found small… Read more »

Finance

Small businesses called to have their say on payment times

- February 21, 2020 2 MIN READ

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell is encouraging small businesses to have their say on a draft law requiring big businesses to be more transparent about their payment times. Today the federal government opened consultation on the draft Payment Times Reporting Framework legislation that will require businesses with a turnover of… Read more »

News

Ombudsman says legislation needed to fix late payments

- February 14, 2020 2 MIN READ

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell says the voluntary Supplier Payment Code is ineffective and if the government is serious about getting big business to pay small business on time, legislation may be required. Carnell’s comments follow recent scandals surrounding reverse factoring in which certain larger corporations were miming data… Read more »

News

The news you need to know: September 26 2019

- September 25, 2019 2 MIN READ

Did you miss out on today’s news? Don’t fret! We’ve got the lowdown on all the news that matters to small business owners. Here’s what you need to know on Thursday September 26 2019. Melbourne café to face court over underpaying workers The Fair Work Ombudsman is taking the operators of a Northcote café to… Read more »

News

Corporates fail to cough up info on payment times for small biz

- April 9, 2019 2 MIN READ

The Australian Smal Business and Family Enterprise Ombudsman has revealed a large number of big corporates have failed to respond to the ombudsman’s request for information on payment times to suppliers in the small business space. The Review of payment terms, times and practices report, released today by the ASBFEO, surveyed 2400 small and family businesses… Read more »

News

Big business put on notice for poor payment times

- February 14, 2019 < 1 MIN READ

The Minister for Small and Family Business, Michaelia Cash has put the nation’s biggest corporations on notice, following the government’s commitment to improve payment times for small businesses. 3000 of the nation’s leading corporations are being called upon to take part in a payment reporting scheme which would require them to publish how long it… Read more »

News

Last chance to take ASBFEO payment times survey

- November 29, 2018 < 1 MIN READ

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… Read more »

Finance

Late payments leave small business owners in the lurch

- November 9, 2018 2 MIN READ

Research from recurring payments specialist, Go Cardless reveals 75 per cent of Australian SMB owners said they can’t be sure they’ll be able to pay their own bills on time due to unpaid invoices. Despite recent government reforms, late payments continue to be an ongoing battle for Australian SMB owners with delayed payments directly impacting businesses,… Read more »