Surge in Small Businesses worried about being paid
New figures from the Australian Small Business and Family Enterprise Ombudsman reveal a 50 per cent jump in requests for help from distressed business owners who are fearful that another business who owes them money has become insolvent or who are worried about their own ability to meet their financial commitments.
The Ombudsman, Bruce Billson, said payment disputes were an early warning sign of a cash flow problem and can have a ripple effect that threatens the viability of other businesses.