Spotlight on small business payments
12 January 2017
Payment terms and times for New England Electorate small businesses are currently in the spotlight, thanks to an Australian Small Business and Family Enterprise Ombudsman Inquiry, The Deputy Prime Minister, Minister for Agriculture and Water Resources and Member for New England, Barnaby Joyce, says.
“As I travel around my electorate and meet with local small businesses, I hear that cash-flow and payment terms are among the biggest issues small businesses face,” Mr Joyce said.
“The Coalition Government understands cash-flow is king for small business and this inquiry is seeking feedback from small businesses right across Australia to ensure payment terms are fair for Australia’s 2.1 million small businesses.
“Now is the time for local small business owners and operators to have their say about levelling the playing field on payment terms and ensuring small business bills are paid on time.”
The first self-initiated inquiry of the Australian Small Business and Family Enterprise Ombudsman since the Coalition Government established the watchdog in March 2016, Ombudsman Kate Carnell’s inquiry follows nation-wide consultation on issues affecting small business during 2016.
Small Business Minister Michael McCormack praised the Ombudsman’s initiative and encouraged small business owners to have their say.
“The feedback we are all hearing from small business highlights why this inquiry into late payments and other adverse payment practices is necessary. It is vital Australian small businesses take the opportunity to have their say so we can help strengthen the sector into the future,” Mr McCormack said.
The Ombudsman will also seek input from State and Territory Governments and Authorities, State Small Business Commissioners, the Council of Small Businesses Australia and the Australian Institute of Credit Management, as well as businesses large and small.
The Ombudsman’s survey is open until the end of February, 2017 and can be accessed here: http://asbfeo.gov.au/inquiries/payment-times-and-practices/business-survey.
Written submissions or comments can be emailed to email@example.com.
The Ombudsman will present her report to Minister McCormack in March, 2017.