Government pledges $8.1 million and crackdowns to ensure small businesses are paid on time
The Albanese government has committed to speed up payment times for small business, crack down on non-compliance, and name and shame big businesses.
Jingle Bills: Aussie SMEs to chase $22 billion in unpaid invoices this festive season
SMEs are expecting an average of eight invoices will go unpaid between now and Christmas day, new research shows.
The Payment Times Reporting Scheme will come into effect on January 1: Here’s what SMEs need to know
The Payment Times Reporting Scheme aims to improve SME cashflow by making reporting entities disclose their payment terms and times.
South Australian e-invoicing startup Link4 lands contract with Treasury to improve small business cashflow
An Australian government promise to pay its suppliers faster has led to a collaboration between Treasury and e-invoicing startup Link4.
Labor to push for fines in plan to name and shame big business over payment terms
Proposed reforms to payment terms for small businesses don't go far enough and should include the spectre of financial penalties, says Labor.
Will naming and shaming work? Small business sceptical as Payment Times Reporting Framework scrutinised in Senate
Small business advocates are sceptical the Payment Times Reporting Framework will actually do what it says on the tin and improve payment times.
Carnell calls on Morrison to outlaw payment times in excess of 30 days for SMEs amid coronavirus invoice extensions
Payment times in excess of 30 days should be outlawed, Kate Carnell says, noting a deluge of big businesses using COVID-19 as an excuse.
Should Scott Morrison make 30-plus day payment terms illegal?
Kate Carnell has given big businesses an ultimatum on whether or not she will formally recommend outlawing payment terms longer than 30 days.
“The slowest-paying modern country in the world”: How Quicka is using buy-now-pay-late to address late payment woes
According to Quicka, business owners would rather lose almost a fifth of their revenue and be paid on time, than waste business hours chasing customers.
Late payments a $7 billion issue for SMEs and is slowing revenue growth, report shows
Late payment times has been revealed to be a $7 billion problem and one which is significantly slowing the growth of local SMEs.
“Selfish and short-sighted”: Damming ombudsman report shows big business still lax on SME payment terms
Some of Australia's largest businesses are failing to pay small businesses on time, despite promising to improve payment terms.
Have your say: How should the government regulate late payment times?
The government is seeking views on how it should formulate its late payment times reporting policy, with everything from enforcement to scope covered.
