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15 March 2018

ASBFEO achievements

The former Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, covers the significant achievements of the ASBFEO office as this week marks its second birthday.

“This week is our 2nd birthday. Over that period of time a lot of things have been achieved due to the great work of my wonderful staff and the input of small businesses from around Australia.

“You told us that one of the things upsetting you was big business and governments paying slower and slower. We did a major piece of work and we found that you were right; they are paying slower. The outcome of that has been that the Business Council of Australia has set up a new Code of Practice to encourage big business to pay in 30 days or less, and the Australia Government has announced that they will move to 15 business day payments by the middle of next year.

“We’ve been working with the fintechs, the online lenders, and released a major paper that will make fintech lending more transparent, and by the middle of the year a capacity for small businesses able to compare different fintech offerings so that they can make good decisions if they think fintech lending is the solution for their businesses.

“Please get in touch with our office if you have anything you’d like us to investigate or you’ve got a problem you’d like us to help you solve on your behalf.”