Small Biz Buzz: Cash flow improves; Late payments crackdown

Here's what's making headlines in the small business world this week.

The ASBFEO is cracking down on late payments. Source: Supplied

Positive cash flow for small businesses

Most small to medium enterprises are reporting improved cashflow this year.

However, a Scottish Pacific report found 90 per cent suffered cash flow issues last year, which impacted revenue by up to 10 per cent. 

It's hoped a better cash flow in 2018 will drive new capital expenditure and business investment demand.

National Payment Transparency Register update

The Small Business and Family Enterprise Ombudsman has updated its National Payment Transparency Register - which promotes companies that pay their suppliers on time.

In an effort to clamp down on late payments, the register keeps a tight record on those who pay their suppliers within 30 days and gives small businesses visibility to make strategic risk assessments based on previous performance.

The recent Australian late payments report shows overall payment times have dropped to their lowest level.

The Ombudsman also hailed the success of the small business loans inquiry that aims to ensure fairer, plain English financial contracts for small business.

Want to find out the secret to small business success? Tune into #BizSecretsSBS at Sundays 7am & 5pm on SBS, stream on SBS On Demand, or follow us on Facebook, Twitter or Instagram.