The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has teamed up with the Australian Institute of Credit Management (AICM) to conduct a survey focusing on late payments for small businesses.
According to Business.gov.au, the purpose of the survey is to understand the effects that late payments have on small businesses. The survey consists of 20 questions focusing on different aspects of late payments, including but not limited to: the standard payment time requirements on invoices, factors considered when setting payment times, average length of payment delays, trends in late payments, what type of organisations are most likely to make late payments, how late payments effect a small business owner’s personal life, and whether penalties are imposed on late payments.
The survey also asks questions on dealing with large corporations and for suggestions on how to improve payment times for small businesses.
Business.gov.au stated that the results from the survey “will inform the Late Payment Times and Practices Inquiry and will complement submissions from business, industry and other interested parties.”
Business.gov.au also stated that the survey is open until February 28 and that all responses are anonymous.
More information, including the link to the survey itself can be found here.
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