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Outcomes of Payments Inquiry survey now available

Thanks to all who took part in the recent small business payment times and practices survey. The report is out with some interesting results:

  • 50% of small businesses are paid late on more than 40% of their invoices
  • 60% of respondents said this situation is getting worse, and
  • 1 in 3 businesses don’t chase-up overdue invoices.

See the recommendations made by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) to put an end to late payments for small business.

Read the full report on the ASBFEO Payment Times and Practices Inquiry.