Business paying bills in record time

Australian businesses continue to set records for paying overdue bills faster, with illion’s Late Payments analysis showing a new low of 10.4 days at the end of September 2018.

“Over past few years the Small Business and Family Enterprise Ombudsman, under Kate Carnell’s leadership, has increased awareness of late payments as a key issue impacting small businesses across Australia. It appears to be paying off, as late payment times have decreased across all industries and sectors.”

Simon Bligh, illion CEO

“Late payments are an indicator of the financial health of the business sector, with low payment times associated with sound conditions. The most recent data, which show late payments times falling to a record low, confirms strong cash flows in the business sector. A mix of low interest rates and well contained cost increases are encouraging firms to pay their bills in a speedy fashion.”

Stephen Koukoulas, illion Economic Adviser