Sponsored by Small Business First
I’M sick of chasing money from an increasing number of clients paying late. Anyone else noticing it? And it seems the bigger they are the later they pay.
I’m sick of being someone else’s bank. Of stressing whether I’ll have enough cash to meet salaries. And embarrassed that the ripple effect is that I then become a late payer because of the cash flow squeeze. It has to stop and we have to all work together to make it happen.
That’s why I’m backing initiatives like Small Business First – a new online community giving business owners a voice, as well as access to deals and offers that usually are reserved for corporates.
Being your own boss sounds romantic, but the reality is that it’s bloody hard work. Rewarding, yes. But it’s no walk in the park. It’s great seeing all of the terrific success stories across the media. This country is full of inspiring Aussie business owners, and meeting them and hearing their stories is one of the best parts of my job.
But only seeing the successes can leave us with rose-coloured glasses about what it means to run your own business.
My wife Libby and I have been business owners for three decades now. We’ve experienced the full roller-coaster ride a number of times.
We’ve had growth and recession, stared over the precipice of shutting up shop and sold to listed companies.
We’ve had great partnerships, and ugly business-divorces.
And all that time we’ve had a whole bunch of people depending on us to pay them each month. It’s certainly not for the faint-hearted.
And while everyone is acknowledging small businesses as “the backbone of the economy”, it certainly feels like we get taken for granted.
Big businesses are the ones who get great deals on all their expenses, and the ones who get to voice their problems in the halls of Canberra, while the small guys plod along doing their jobs.
It’s time we shifted the focus and took care of the real needs of small businesses – such as timely payment rules. Because what might be a drop in the ocean for a big business, could save a small one from closing its doors.
PETITION: BETTER PAYMENT TERMS
Late payment to small businesses for goods and services they supply can cripple cash flow and put the livelihoods of owners and employees at risk.
Small Business First wants to petition Australia's biggest companies to commit to fair payment: a maximum of 30 days to settle their bills.
Show your support for small businesses, the engine room of Australia's growth, by signing the petition, which will be submitted to Australia's Top 100 companies and the Minister for Small Business.
Small Business First membership is free and includes exclusive deals to help you save money.
Small Business First and Fairfax Media may earn a commission on deals through smallbusinessfirst.com.au. Readers should shop around for the best deal to suit their needs.
Pinstripe Media, David Koch's family business, is a founder of Small Business First.