State government’s plan to help small businesses avoid late payments

Small businesses supplying to bigger ones often have trouble getting paid on time.

Managing cash flow is consistently reported as the most important issue facing small businesses.

But Minister for Small Business Philip Dalidakis may have the solution.

Mr Dalidakis told Nick McCallum the government will introduce a Fair Payment Code of Practice to encourage all businesses to pay their small business suppliers on time.

‘When people do the work or provide the product, they deserve to be paid fairly,’ he said.

The code is voluntary, which Mr Dalidakis means businesses who adopt the Code can market themselves as actively small business-friendly.

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