May 23, 2019
The State Government will reduce the time it takes to settle invoices from small businesses from 30 days to 20 days.
It will also look at ways to make it easier for small businesses to sell products and services to the State Government.
Small Business Minister Shannon Fentiman made the announcement at a reception at Parliament House on Thursday ahead of Queensland Small Business Week.
“Queensland is home to more than 438,000 small businesses and we want to help them to grow and succeed,” Ms Fentiman said.
“That’s why I am pleased the government has put forward 12 actions to build the capability of our small businesses and ensure they can do business easier.
“As of July 1, 2020, the government will reduce invoice payment times from 30 days to 20 days for small businesses.
“We will also work on measuring our engagement so we can set a target for government procurement to support smaller businesses.
“Over the next 12 months we will work to improve the capture, sharing and reporting of Queensland Government procurement data, so we can set a baseline for our future target.
“With small businesses making up over 97 per cent of all Queensland businesses, it is vital we build on our reforms put in place under the Buy Queensland approach … to open up more opportunities for small business.
“We will deliver these commitments over the next 12 months to drive opportunities for small business to benefit from our Buy Queensland policy.”
Queensland Small Business Week will be held from Monday, May 27, to Friday, May 31.