Small businesses are getting paid faster by government agencies, according to the newly released Australian Government Pay On-Time Survey Performance Report.
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The 93 agencies surveyed said they paid 96 percent of invoices within 20 days, an increase of 3 per cent from the previous financial year.
Minister for Small Business Julie Collins said the government was leading by example and urged other businesses to follow.
"I encourage other businesses to lift their game to ensure our nation's small businesses are paid on time," she said in a statement.
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AAP previously reported that many small businesses were waiting for months for payment from large companies.
The government has also appointed economist Craig Emerson to lead an independent review of the 2020 Payment Times Reporting Act, which will look at how to ensure Australia's small businesses can be paid quicker.
The review is expected to be completed in the first half of the year.
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Natalie Vikhrov
Natalie Vikhrov reports on federal politics and public service for The Canberra Times. Prior to this, she spent several years covering human rights in Eastern Europe, including Russia's invasion of Ukraine. Get in touch via natalie.vikhrov@austcommunitymedia.com.au.
Natalie Vikhrov reports on federal politics and public service for The Canberra Times. Prior to this, she spent several years covering human rights in Eastern Europe, including Russia's invasion of Ukraine. Get in touch via natalie.vikhrov@austcommunitymedia.com.au.
