Ombudsman wants to hear from you!
Are you a small or family business that has experienced supply chain financing? If so, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) wants to hear from you!
ASBFEO has launched a review of the impact supply chain financing has on the small and family business sector.
The review will examine the ways in which small and family businesses can use supply chain financing to manage cash flow and fund growth.
It will also look at the products being used by big business to offset extended payment times.
Ombudsman Kate Carnell said feedback is welcome through ASBFEO’s stakeholder engagement platform Mindhive.
“Supply chain finance is a legitimate and effective tool to free-up cash flow for small and family businesses,” Ms Carnell said.
“However, it is totally unacceptable for big businesses to use supply chain financing arrangements as a replacement for reasonable payment terms being offered, 30 days or less from invoice.”
A final report will be released in April 2020.