Western Australia was the only state in the country to record an increase in late business payment times for the September quarter, new data has revealed.
Small and medium-sized businesses are settling their invoices about 12 faster than large corporations on average, a report by Dun & Bradstreet has found.
Suppliers to Rio Tinto face more financial pain after the global mining giant said it would double its standard payment terms to 90 days – twice as long as the average Australian business takes to pay its bills.
Australian businesses are settling their invoices at a ‘record-setting pace' of 45.1 days on average, according to a quarterly report by Dun & Bradstreet.
The Australian dollar will hover between US90 cents and $US1.10 over the next five years, leading economist Stephen Koukoulas told a Perth audience this morning.
