IPA seeking small business feedback on impact of late payments

The reference group, working in conjunction with the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), has released a survey in a bid to understand small business experiences with late payments, as well as the trends and effects late payments have on small business.

As accountants are at the forefront of trying to manage cash flow and keeping small business solvent, the survey provides an opportunity to give feedback on these issues.

The survey will also canvass how small business sets up payment times, the actions taken in relation to late payments and the impact this has on business.

The results will inform the LPTPI and will complement submissions from businesses, industry and interested parties, with a report set to be submitted to the government by the end of March.

The survey is open until the end of February and all responses are anonymous.

All small business persons and accountants are encouraged to provide feedback.

Click here to complete the survey.