The Australian Small Business and Family Enterprise Ombudsman’s latest inquiry into payment terms that have affected the livelihood of almost five million Australians involved in small business has left me reflected on the experiences I have had with big companies and government enterprises. At my last job I was chasing up a substantial payment from a multi-million dollar, international company who was almost two months late on their payment. After repetitive, one-way conversations, office staff essentially told me that it would be paid when it was paid, despite the agreed upon 14-day payment terms they had signed prior to the job. The repercussions of this late payment had a chain reaction that affected payroll, budgets and financial position. This interaction between big companies and small businesses puts to question the effects of late payments on the owners of small businesses. Big companies and government enterprises are said to be owing at least $26 billion in unpaid invoices to small businesses. With 90 per cent of small businesses closing due to poor cash flow, the resulting unpaid invoices have led to small business owners taking out loans in order to pay suppliers and wages. “If small-to-medium businesses start falling off a cliff, economic conditions in Australia will certainly follow, so it’s incumbent on big businesses and governments to follow best practice and pay their bills on time,” (Kate Carnell, 2016). If you have a problem with late payments you can talk to your accountant for help with issuing reminders and debt collection, or just for help speeding up the payment.