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Slow Business to Business Payments Pose a Threat to Economic Recovery |
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Written by ESTV
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Wednesday, 19 May 2010 14:27 |
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Slow Business to Business Payments Pose a Threat to Economic Recovery
From a blog by Ric Vatner
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I heard a programme on ABC Radio 702 this morning about concerns regarding business to business payments. In short, they're too slow at the moment and that poses a real threat to economic recovery.
This is not new news, small business has been suffering since at least May 2009 and who are the worst culprits? I’m sure you will not be surprised to hear it is big business and government departments.
During the call in segment, small business people and in some cases their spouse or family member rang in with horror stories of how small firms such as plumbers were owed hundreds of thousands of dollars for work done. I know they are not exaggerating, I have a number of small business clients, one is owed over $600,000, much of it from councils and the bulk of the rest is owed by property developers.
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This is the short version of the story used for the introduction on the home page. To see the full story please click this link: Slow B2B payments pose a threat to economic recovery
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