Tag: Late Payments

The reform, backed by a $33.4 million government investment, aims to deliver faster payments and streamline processes for SMEs

CreditorWatch has launched Debtor Management, a new debt recovery tool to help finance teams and small business owners recover a larger proportion of overdue debt.

One in five Australian business owners and decision-makers estimate losing between $6,000 and $30,000 from late payments annually.

Small businesses must follow cash-strapped consumers down every payment pathway, says Rowan Wilde, Co-Founder of HelpPay

According to new data from the Payment Times Reporting Regulator, nearly 25 per cent of big businesses take over 120 days to pay their small business customers

Small businesses experience challenges enforcing payment terms and recovering payment arrears, as evidenced by the fact that their average late payment rates across all industries are three times greater.

The move will allow SMEs to make more informed decisions about who they do business with. 

Small businesses are pleading to be paid on time, with Ombudsman Kate Carnell urging big businesses not to use the COVID-19 economic downturn as an excuse not to pay up. The reports of big businesses using COVID-19 as an excuse to delay payments to their small business suppliers is disappointing. “Now is the time for […]

Have you ever struggled with cash flow as a result of late payments to your small business? We know this is an ongoing issue for small business owners, and so in today’s podcast that’s really what we are focussed on. We are going through the top tips to achieve a healthy cash flow and healthy […]

Only a few big businesses, such as Telstra and Rio Tinto, have done ‘the right thing’ according to Australian Small Business Ombudsman Kate Carnell, in terms of addressing late payments. Late payments is a huge problem for the Australian small business community, with a Xero report last June (2019) citing a loss of $7 billion per […]