late payments are crippling small business
News

Payment times report register reveals extent of late payments to small business

- December 2, 2021 2 MIN READ

The launch of the Payment Times Reports Register has revealed three in ten big businesses are paying their small business suppliers late. The new online Payment Times Reports Register publishes information about the payment policies of businesses with a turnover of more than $100 million. Australian Small Business and  Family Enterprise Ombudsman Bruce Billson welcomed… Read more »

fast tracked payments
News

NSW Faster Payment Policy swings into action

- January 25, 2021 2 MIN READ

The NSW Faster Payments Policy has expanded its reach with larger companies with NSW government contracts now obliged to pay their small business suppliers in 20 business days. The pilot program which runs until June follows on from the government’s 2018 commitment to pay small businesses directly contracted by the government in five business days.… Read more »

News

Tax debt crisis predicted when government subsidies shut off

- July 15, 2020 2 MIN READ

Australia’s small businesses will struggle to pay their tax debts according to a recent survey.  The research by money.com.au found a majority of Australian businesses were already struggling to meet tax obligations pre-COVID-19 with 25 per cent not having the cash on hand to pay debts. Now with lockdown and restrictions impacting trade, it is… Read more »

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 »