Newsletter #384 (View other news stories)
Cash flow help available to small business
BRISBANE, Queensland, Australia
Thursday, 30 Oct 2008
 Small businesses can take advantage of a range of measures designed to improve cash flow. |
|
A raft of measures aimed at improving cash flow for small business was launched at a summit in Brisbane last week.
Special measures include:
• support and advice during the financial crisis from Business Enterprise Centres and other registered business organisations, through a AUD4 million government investment over 2008-09 and 2009-10;
• a guarantee of on-time payment for new small business contracts with Federal Government departments. Contracts up to AUD1 million will, from December 1, be paid within 30 days, otherwise small business will have the right to charge penalty interest; and
• a commitment to developing standard procurement documents to make it cheaper and easier for small businesses to sell to the government.
The Australian Tax Office has committed to working with small businesses that are having difficulty meeting their tax obligations, which may include allowing tax debts to be paid by instalments over time.
Every year the Commonwealth has more than 65,000 contracts under AUD1 million and spends almost AUD30 billion on goods and services.
Small businesses are encouraged to register on AusTender (www.tenders.gov.au) to get automatic notification of new Australian Government business opportunities in their industry.
|
CURRENT NEWS
|
