YOU CAN’T BE SERIOUS – TIME’S UP FOR BIG BUSINESS TO PAY

Almost one in four big businesses take more than 120 days to pay their small business suppliers, according to new analysis using data from the Payment Times Reporting Regulator.

The information reported by big business also reveals those operating in the manufacturing, retail trade and construction sectors have recorded the worst performance in paying their small business suppliers.

OCTOBER 2022 BUDGET

The Australian Small Business and Family Enterprise Ombudsman Bruce Billson says tonight’s Budget handed down by the Australian Government will provide welcome capability building, mental health and financial advice support for small businesses and incentives to grow, transform and become energy efficient.

The Budget includes:

Ombudsman welcomes mental health and financial counselling support

The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, has welcomed the Australian Government’s announcement of $15 million in funding for free mental health and financial counselling support for small businesses in next week’s federal Budget.

“For small and family business owners, their business is not just their livelihood but a fundamental part of their life,” Mr Billson said.

OMBUDSMAN WELCOMES INTRODUCTION OF LEGISLATION TO HELP SMALL AND FAMILY BUSINESSES

The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, has welcomed the Albanese government’s move to introduce legislation into Parliament to crackdown on unfair contract terms and increase penalties for anti-competitive behaviour.

“These are real problems for small and family businesses and rebalancing the relationship imbalances between small business and large enterprises will promote economic growth,” Mr Billson said.