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Small Business Payments Guarantee under National

A National Government will require all government departments and government agencies to pay their contractors on time and within 30 days, National’s spokesperson for Small Business Jacqui Dean says.

“Getting paid on time is a big issue for New Zealand small business owners. Long delays in payment can inhibit their ability to invest and expand. In the past year, only half of all small businesses were cash flow positive in any given month.

“National wants to find ways to ease the stress for small business owners and ensure healthier cash flows. We believe the Government should lead by example, instead of punishing others into compliance.

“We will also establish a ‘Small Business Payments Guarantee’. This will be a voluntary initiative committing large New Zealand businesses and not-for-profits to ensure New Zealand small businesses are paid on time and within 30 days.

“New Zealand’s economy is driven by hardworking small business owners. Every Government should do what it can to reduce costs and uncertainty so that our small businesses have the confidence to take risks, invest, hire new staff and lift wages.

“National has committed to implementing these changes in our first hundred days in Government.

“We understand the economy and will do everything we can to back business owners to succeed. National will restore business confidence and revive our economy.”

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