Payment terms for Corangamite small businesses will be at the heart of a new small business inquiry to be conducted by the Australian Small Business and Family Enterprise Ombudsman, Federal Member for Corangamite, Sarah Henderson said today.
“As I travel around Corangamite and meet with local small businesses, I hear that cash-flow and payment terms are among the biggest issues small businesses face,” Ms Henderson said.
“The Coalition Government understands cash-flow is king for small business and this inquiry is seeking feedback from small businesses right across Australia to ensure payment terms are fair for Australia’s 2.1 million small businesses.”
“Corangamite has over 11,500 small businesses and now is the time for owners and operators to have their say about levelling the playing field on payment terms and ensuring small business bills are paid on time.”
Ombudsman Kate Carnell’s inquiry follows nation-wide consultation on issues affecting small business during 2016 and is the first self-initiated inquiry of the Australian Small Business and Family Enterprise Ombudsman since the Turnbull government established the watchdog in March 2016.
Input will also be sought from State and Territory Governments and authorities, State Small Business Commissioners, the Council of Small Businesses Australia and the Australian Institute of Credit Management.
The Ombudsman’s survey is open until the end of February 2017 and can be accessed here: http://asbfeo.gov.au/inquiries/payment-times-and-practices/business-survey. Written submissions or comments can be emailed to inquiries@asbfeo.gov.au.
A report will be presented to Small Business Minister Michael McCormack in March 2017.
10 January 2017