Australian businesses paying their bills in record time; SMEs never had it better
The financial stress suffered by the Australian agriculture sector during the past year has been confirmed with a 26 per cent increase in the time it takes Australia’s agricultural businesses to pay their invoices and other expenses, a new report has revealed.
According to illion’s Late Payments Report for the 2019 June quarter, late payments across the nation have improved by 8 per cent year-on-year from 11 days to 10 days, reflecting improved trading conditions and pressure from the government to cut payment times.
“While an improvement in late payment times across the board is encouraging, our analysis clearly confirms the difficult conditions facing Australian farmers, particularly in the face of the ongoing drought.”
Simon Bligh, illion CEO