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Memo to Big Business: You owe money. Pay up! It’s that simple

Sunday, February 16, 2020

We started our campaign against ‘reverse factoring’ in October last year. That’s the ‘game’ that large businesses play where they delay paying their small business suppliers. Then they say ‘oh we know a friendly financier who will lend you the money we’re not paying you!’ What a scam!

In November last year we called for reverse factoring to be stamped out. Here’s my YouTube comment from Parliament House.

The big issue is really about big businesses paying their bills on time. The evidence is that they have to be forced to do this.

In February 2019, before the election, the Morrison government promised to do something. It is developing legislation to require 3,000 big businesses to “…publish how and when they pay their small business suppliers and contractors…” Basically, it’s a name-and-shame effort.

The Labor opposition has been saying ‘this is not enough and too slow!’

There’s a lot of political, bureaucratic and community heat over this issue. And so there should be.

We’ll soon be taking action to raise the heat even more through a grass roots campaign.

But first we’ve put together a summary of all the events/game play and so on. We need to make sure that we’ve got the ‘facts on the table’.

You can read the full facts/developments/games here.

But to turn up the heat we’ll need your help. It’s about time that small business people undertook some major agitation on this issue. We’ll have some very practical and easy things for you to do based around our ‘PAY ON TIME PLEDGE’.

More details to come.

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