Deteriorating payment times as the pandemic infects business
Battered by the first stage of the COVID-economic downturn, Australian companies are increasingly failing to pay their bills on time, as they struggle to trade their way out of the current financial malaise.
- On average, one quarter of all bills were paid beyond the agreed terms in all 14 key industry sectors, pointing to the widespread and protracted pain being felt across the economy.
- Mining, manufacturing and retail trade have traditionally been the greatest laggards in paying their suppliers on time, while transportation, services and agriculture have been the best performing.
- On a state-by-state basis, the illion data shows all states and territories across Australia have recorded increases in the time it takes to pay suppliers, with Tasmania hit the worst.
To learn more, complete the form and download the report.