The Ombudsman has issued a guide to help Australian small businesses navigate the challenges of paying or collecting a debt.
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has revealed a new guide for small businesses has been developed to help them overcome the challenges of paying or collecting debt.
Ombudsman Bruce Billson said he had experienced a 50 per cent increase in calls from small businesses worried a supplier was insolvent or that their own business was insolvent.
“Outstanding debts can be overwhelming for a small business, whether you are owed money by a customer or you owe money to a supplier,” Billson said.
“Businesses usually…
