Cracking down on late payments

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Running Time: 6:26

Date: 01/02/2022

Waiting an unreasonable time for big companies to pay their bills could soon be a thing of the past, thanks to the Federal Government’s new Payment Times Reporting Scheme.

Under the system, companies will have to publicly disclose how long they are taking to pay their small business clients. Even though it has only become law this year, the small business minister says the scheme has already had an impact, because the big end of town is so worried about being named and shamed.