Home – New › Forums › Money matters › Do you think Australia has a culture of late payments? › Reply To: Do you think Australia has a culture of late payments?
- Total posts: 180
Definitely would agree with this.
The last small business I worked for had an attitude that they didn’t have to pay invoices until they were very, very late. It really shocked me!!! I had to field a lot of angry phone calls from service providers wanting to be paid… with no actual power to fix the situation. It was very frustrating.
But I guess it prepared me for what I could expect, going into business myself. There are some businesses that pay immediately upon receiving an invoice, while most leave it until the last minute. About 25% probably wait until it’s overdue or sometimes don’t pay at all. I have been waiting nearly a year on one client to pay for about 2 week’s worth of work (yes they have been chased!).. hmm.
Of course, there are ways to avoid all of this drama, like having clear incentives, terms and conditions, avoiding these types of clients (you start to recognise their smell from a distance haha) and using a service like yourselves (Checkvault). But I didn’t know any of that back in the beginning when I started!