Bruce Billson, the Australian Small Business and Family Enterprise Ombudsman sat down with Nick Fox, Deloitte’s Payment Times Reporting Lead to discuss the recent release of the first Payment Times Reporting Register.

Below is a summary of the discussion:

• There is optimism in the positive role played by the Register to help reduce the time it takes to pay small business suppliers
• Some large businesses have indicated a commitment to improve and that it is a time of transition
• The Register is a great accountability tool to help small businesses make judgements about supplying and on what terms
• The overall focus and public discourse over the Register is seen as a constructive way to help recognise this important corporate governance performance criteria
• Good business pays and the Register helps to encourage and report on that.

Watch the full video here