Petition: Better payment terms for small businesses

We all know that late payments to small businesses for goods and services supplied can cripple cash flow and put the livelihoods of owners and employees at risk. With more than two million small businesses in Australia that is a huge amount of people who are being impacted on a daily basis.

Pay up in 30 days!

The Council of Small Business Australia (COSBOA) has released a statement calling for the development and implementation of a national prompt payment protocol to ensure small businesses are paid by big businesses within a tighter timeframe.

We couldn’t agree more! Here at Small Business First, we are determined to keep the momentum going and ask the government to set a code for best payment practices and petition Australia's biggest companies to sign the code for fair payment.

What’s fair? We think a maximum of 30 days to settle their bills.

So, what are we calling for exactly?

To start a movement for implementing fair payment standards, a petition is being prepared by Small Business First, which will ask the government to set a Prompt Payment Code. The UK has had one in place since 2008 where 60% of the supply chain has signed up. It's high time Australia got one too.

Once an official code is put into place, compliance with its principles should be tracked and enforced by a Prompt Payment Compliance Body. The guiding principles of the code should include:

1. Timely payment to suppliers and to promote 30-day payment terms as the norm.

2. Clear guidance for big businesses to encourage good payment practice.

Take control

This is your chance to show your support for small businesses, the engine room of Australia's growth! Sign our petition today and we will submit it for you to Australia's top 100 companies as well as the Minister for Small Business.

We need more than 2000 signatures on our petition so we can share it with government and industry leaders, asking them to help by putting their weight behind small businesses.

Don’t forget, prompt payment can make a huge difference to the millions of us who work in small businesses. It can also boost finances and allow us the freedom to invest in future growth.

Sign the petition now!

Sign the petition and help us reach 2000 signatures

Supporters so far

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  • user
    Mining companies are one of the biggest offenders, the larger the company the more extended terms are being applied, it cripples the small businesses especially when project work is involved.
    • Lyn Daniel
    • 22 Nov 2016
    • 12:53 PM
  • user
    Large companies are using small business money to prop-up there own bank accounts , I just received a payment 100 days after invoice date NOT good enough , small business needs help
    • Russell Mirfin
    • 11 Nov 2016
    • 08:42 AM
  • user
    Waiting 6 months from 1 business and well over 12 months from another a total of over $50,000 we can NOT afford there has got to be some law to prevent this
    • Russell Mirfin
    • 18 Oct 2016
    • 08:17 AM
    • user

      Couldn't agree more Russel! A prompt payment code is absolutely necessary at this point.

      • Expert: Shubhda Khanna Nag
      • 26 Oct 2016
      • 10:27 AM
  • user
    I recently had to wait 6 months to get paid by a much larger company, mean while everytime I politely inquired about payment I got told to stop "harassing" them and to basically like it or lump it, very frustrating. I had to go through the court process and it just takes so long.
    • Billy Mifsud
    • 18 Oct 2016
    • 06:34 AM
    • user

      That is just so frustrating Bill! And it eats up so much of your time that could be used doing other important things. Plus it impacts other areas of your business.

      • Expert: Shubhda Khanna Nag
      • 26 Oct 2016
      • 10:29 AM
  • user
    It's all too common an excuse that we can't pay you till we get paid.....usually large and government business who own the money to the small operators.......have had letters from big business saying their trading terms are now 60 days! .....and you can either like it or lump it! It's not a fair deal as the same big business wants top service and then also "crunches" the suppliers on price! Things need to change!
    • Colleen Thomas
    • 16 Oct 2016
    • 12:22 PM
  • user
    This doesn't affect our small business, but we have family and friends who are in building and construction businesses, and they are severely affected by late payments from big businesses. We have friends in the trucking business and have almost gone broke several times because of late payments from big businesses. Banks don't care about the small businesses and foreclose at the drop of a hat, even though they are making millions.
    • Trish Etherton
    • 13 Oct 2016
    • 11:47 AM
  • user
    It's about time a saw a good business program on the week end and small business in the bank to larger business - unfair
    • Lynette Thodsen
    • 11 Oct 2016
    • 01:43 PM
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