12 Apr 2017

Corporates squeeze contractors with "extortionate" tactics

From Nine To Noon, 9:32 am on 12 April 2017

An Australian Ombudsman has just released a damning report into delayed payments to small businesses by large corporates and a similar problem seems to exist in New Zealand. The Australian Small and Family Business Ombudsman's has found big international firms, including Fonterra, routinely delay payments to contractors by up to 120 days. Meanwhile data from Xero shows more than two-thirds of its small business clients in NZ had invoices which were overdue by more than 30 days in the last six months. Kathryn Ryan speaks to the Ombudsman, Kate Carnell, and to Max Whitehead, the chief executive of Small Business Voice in New Zealand