Nationals Member for Cowper Luke Hartsuyker has welcomed the latest survey results showing the Australian Government is paying almost all invoices on time.
The Pay On-Time Survey Performance Report shows that Australian Government agencies are paying around 97% of invoices under $1 million on time. This is great news for Australian small businesses, who are often suppliers to Australian Government departments and agencies.
“I’ve been in small business, and I understand the importance of cash-flow. The Australian Government should be leading the way in paying invoices on time, but this has not always been the case,” Mr Hartsuyker said.
“In 2002, only 82% of invoices were paid on time, so the improvement over recent years is welcome.
“No matter whether a small business is new or established, in the city or a regional area, cash flow in and out of the business is essential. The Government knows small business is not a bank, which is why paying our bills on-time is such a high priority.
“The Government’s Pay On-Time Policy requires Government agencies and departments to pay their invoices on time, or to pay interest on late payments if the outstanding amount exceeds $100.
“The Pay On-Time Policy is one element of the Coalition Government’s strong record of support for the small business sector, which also includes the recent small business tax cuts.”
The 2016 Australian Government Pay On-Time Survey Report is available at http://bit.ly/2oAVRq7.
Small Business Minister Michael McCormack will be visiting Cowper on Wednesday next week as part of a national Small Business Road Show. Small Business forums will be held in Coffs Harbour and Port Macquarie. Small business owners and managers have been invited through local Chambers of Commerce, Councils, and through direct mail. Any small business owner interested in attending one of the forums may RSVP by contacting Mr Hartsuyker’s office directly on 6652 6233 or by emailing Luke.Hartsuyker.MP@aph.gov.au.
• Cowper is home to around 12,125 small businesses
• Australian Small Businesses account for 36% of economic output, and 45% of all employment