This document was authored by the then Department of Jobs and Small Business as part of the Small Business portfolio policy functions which have since been transferred to the Treasury.
The Australian Government plans to introduce a new Payment Times Reporting Scheme for large businesses and large government enterprises with a total annual income of over $100 million to publicly report information on their small business payment terms and times. The scheme will:
- increase transparency of the payment performance of large businesses so small businesses can make more informed decisions about their potential customers
- drive cultural change to improve payment times
The former Department of Employment, Skills, Small and Family Business undertook the second stage of consultation on the design of the scheme through a discussion paper
Specifically, the consultation sought stakeholders’ views on three complex issues:
- How should large businesses identify their small business suppliers?
- How should large businesses report? For example, as a group, separate entities or both.
- Are there implementation issues to consider?
The consultation also included face to face workshops in Perth and Sydney, one on one meetings and a survey of over 300 small businesses.