Many big businesses treat SMEs as a line of credit, Small Business Institute says

An advocacy body for small and medium enterprises has urged small-business owners to consider claiming interest and debt recovery costs from companies or government departments that fail to pay for goods or services on time.

Figures released in September 2017 by the department of small business development show that close to 72,000 invoices to the value of R4.3bn were unpaid by government departments and were older than 30 days. Over 23,000 invoices were paid late by provincial government departments in 2016, totaling more than R2bn.

“In effect they are running their businesses, earning interest, and improving their own cash flow with money owing to the small businesses we all say we value,” said Swanepoel. The SBI recently sent a letter to each of the top 100 companies on the JSE, asking whether they are paying small businesses within 30 days from invoice, which is a government policy.

Don’t understand why invoices are being paid more than 30 days later...especially when the institution requested urgent delivery and we complied within days. Totally unacceptable, small business is not sustainable when payment is not forthcoming...

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

OP-ED: Big agro-business still dominates farming while small producers wilt on the vineAgricultural policy still favours neoliberal models of big agro-business and works against small producers who simply don’t have the resources to compete. It’s difficult not to conclude that this policy has been hijacked deliberately to channel resources from smallholders into commercial and corporate pockets.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »

JSE posts small gains as financial services stocks riseGlobal markets are mixed with reports that the US and China could announce a trade deal by next Friday
Källa: BDliveSA - 🏆 12. / 63 Läs mer »