Around half of Australia’s big businesses are failing to pay small business suppliers on time, according to the country’s small business and family enterprise ombudsman.
According to the Payment Times Reporting Regulator, over half the country’s businesses with an annual turnover of over $100 million (US$70 million) managed to meet payment deadlines to 80 percent of their supplier invoices.
“This is an incredibly disappointing result,” Ombudsman Bruce Billson said in a media release. “I call on the nation’s big business to show leadership, respect, and care for our small businesses and to pay their bills on time.”
“Small businesses are not asking to be paid early, just to be paid on time. Put simply, good business pays.”…