Payment times improve but more needs to be done

Payment times have improved quite a lot but more still needs to be done. On average, 63.8 percent of Australian businesses paid their bills right on time. But, just 12 percent of ASX-listed companies pay on time compared with almost 34 percent of non-ASX-listed companies. One person said that this is very disappointing because the public companies should be leading by example. One person also said that cash flow was a key ingredient for small business.

Key Takeaways:

• Non-ASX-listed companies are better at paying on time than ASX-listed companies.
• Western Australia is ranked as the poorest for its payment times.
• Australia is trying to push for 15 days payment terms.

“One of the biggest issues facing small business is delayed payments by big business and governments.”

Read more: https://insidesmallbusiness.com.au/planning-management/payment-times-improve-but-more-needs-to-be-done