Small business continues to be paid late

A new survey shows small and medium sized businesses continue to face problems with large businesses not paying them on time. Large businesses that offer 30-day payment terms to their smaller business partners rarely pay on time, a new study shows.A report by the Australian Small Business and Family Enterprise Ombudsman released on Monday found little had changed since the 2017 survey where one in two small and medium businesses reported greater than 40 per cent of their invoices were paid late.Of particular concern, 28 per cent of respondents reported over 60 per cent of their invoices were paid late last financial year.