Regulation urged for faster invoice payments

Fri, 06 Dec 2019

Big businesses won’t follow the government’s lead on prompt invoice payments without legislation, according to former Small Business Council chair Tenby Powell.“Large businesses have been using small business as a bank and it needs to stop. It is morally and ethically wrong,” he told BusinessDesk.The government has just announced it will pay its domestic invoices faster in an effort to boost small businesses’ cash flow and is encouraging the private sector to do the same.The prompt payment practice is one of three recommendations made by the Sm...

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