Greg Charlwood, Managing Director of Australian Invoice Finance was featured in the latest edition of Money Magazine. Greg shares an insight into how late payment of invoices by big business is a widespread scourge that is holding back the growth and productivity of many small businesses in Australia.
Surprisingly, big businesses are the worst offenders which can really impact small businesses. Data from the international research company Illion reveals that for the 2019 March quarter Australian companies with 500-plus employees had an average late payment time of 14 days. Research shows that from July 2017 to July 2018 an estimated 53% of invoices worth $115 billion were not paid on time by big businesses.
Read the attach article.