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Latest News

Faster payment times for over 5,000 small businesses

18 May 2017

Thousands of Australian small business suppliers will soon see the benefits of faster payment times after Rio Tinto announced a change to its payment terms.

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell said it’s a fantastic result for over 5,500 small businesses that trade with Rio Tinto.

“By changing its payment terms for Australian suppliers under $1 million of expenditure to 30 days, Rio Tinto is taking a positive step forwards and understanding the needs of their small business suppliers,” Ms Carnell said.

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ASIC and ASBFEO hold banks to account on unfair contract terms

16 May 2017

Following intervention by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the Australian Securities and Investments Commission (ASIC), the big four banks are taking action to protect small businesses from unfair terms in loan contracts.

Following a round table hosted by ASBFEO and ASIC, the big four banks have committed to a series of comprehensive changes to ensure all small business loans entered into or renewed from 12 November 2016 will be protected from unfair contract terms.

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Would you like more information on unfair contract terms?

A new law is now in place to help better protect small businesses from unfair terms in ‘Standard Form Contracts’.

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Case studies

Revival of a silver screen icon

Making your passion your profession

David Kilderry’s love of cinema began when his parents built a second story on their house in Reservoir, Victoria; from David’s new bedroom window, he could see the Coburg Drive-In screen.

“It was a little way away, but I could see it and I fell in love with drive-ins then and there,” David recalled.

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From little things…

The evolution of a product

Working hard to make ends meet as a young single mum, Loo Taylor decided to start selling her home-made terry towelling cushions at the Fremantle markets near Perth.

Cushions weren’t her only area of expertise though; Loo also made hair clips.

“I had long hair at the time, and after I cut it all off, I started making clips with flowers on them to wear,” Loo explained.

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Vines, wines and not enough time!

A mutual interest

It was a love of fine wines that inspired one Canberra couple to start their own small business.

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