Paying on time tricky business (Op-ed)

By Bruce Billson

Originally published in the Herald Sun.

At a time when small and family businesses face headwinds, it’s not too much to ask that their big business customers play their parts by paying their invoices in a more timely way.

Woeful figures just released by the government regulator reveal only three out of 10 big businesses pay their small business customers within 30 days, while almost a quarter take more than 120 days to pay up.

TRANSCRIPT: Payment times, dispute resolution, tax concierge service, insolvency law reform, disaster preparedness

Australian Small Business and Family Enterprise Ombudsman Bruce Billson extract of interview with Philip King.

Accountants Daily Insider - Podcast

Subject: Payment times, dispute resolution, tax concierge service, insolvency law reform, disaster preparedness

BIG BUSINESSES URGED TO “LIFT THEIR GAME” ON PAYMENT TIMES

Only three out of 10 big businesses pay their small business customers within 30 days while nearly one-quarter take more than 120 days to pay up, according to new payment times data.

“This is a woeful performance and is bitterly disappointing news for small and family businesses to start the year,” said the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson.