Australia Post has agreed to pay its small business suppliers within 30 days through a voluntary code of practice set up by the Business Council of Australia.

“We welcome and support this initiative by the Business Council of Australia,” said Rebecca Burrows, General Manager Small Business ay Australia Post.

“Australia Post already has work actively underway to ensure all identified small business suppliers are paid within 30 days or better. In July 2017, all existing and new Australia Post vendors will be invited to register on a new supplier portal to access a new, streamlined invoicing and payments process and this will be just the first step towards future improvements.”

In a statement issued today Australia Post added that it also has a major project underway to implement a new, more streamlined payment system in 2018.

Small businesses and sole traders around the world dealing with major clients such as Australia Post and Royal Mail often have had to deal with payment terms of 90 days or more, and this is a major headache for their book-keeping. Such initiatives make working with the big guys a lot more palatable and easier.  
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