The shocking number of small businesses owed money revealed

Data has revealed one-third of businesses have been waiting 30 days to get paid while a quarter of businesses have waited up to 120 days.

Australian small business and family enterprise Ombudsman, Bruce Bilson, says small businesses owed money should raise it with the customer directly.

“Saying ‘Hey, you owe me some money. Here’s the amount you owe me. When can I expect a payment?’ And start that sort of more formal engagement to get paid, that’s pretty important,” he told Neil Mitchell.

Press PLAY to hear what small businesses can do to get paid on time

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