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From 1 July, additional funding will extend free, confidential support services for small business owners and expand access to independent financial counselling for those under pressure.
The aim is to help owners manage cash flow, negotiate with lenders and suppliers, and make informed decisions when times are tough.
The federal government is also tightening accountability around payment times.
New data shows Commonwealth entities are paying small business invoices significantly faster than the national average, while hundreds of large companies have been chased for missing payment reports.
Now, new enforcement powers will target the slowest payers, and a streamlined reporting portal is set to reduce red tape for businesses doing the right thing.
With cash flow still one of the biggest risks for SMEs, these reforms highlight the importance of strong financial systems.
If late payments or rising costs are affecting your business, a trusted accountant can help you plan, manage risk and protect your growth.
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