The Australian Small Business and Family Enterprise Ombudsman is conducting an inquiry to examine payment times and practices in Australia, and is seeking feedback on the effect and impacts that long payment times have on small businesses.
The ASBFEO says the payment practices of some large corporations are impacting on small businesses, with an estimated $26 billion in outstanding invoices owed to small businesses across the country. In recognition of this issue, it has launched an inquiry into payment times and practices that affect small business.
The ASBFEO is seeking feedback by 28 February 2017 on the matters raised in an Issues Paper it has recently released.
To find out more about the inquiry and provide feedback, visit http://asbfeo.gov.au/inquiries/payment-times-and-practices