BHP will start paying invoices from small business suppliers after just seven days and has created a $6 million fund to support labour hire companies affected by COVID-19.
Rio Tinto and Telstra have announced shorter payment terms for small and medium Australian businesses, whereby SMEs will be paid within 20 days of a valid invoice receipt.
Rio Tinto has scrapped a practice that allowed it to discount payments to small business suppliers, two weeks after the state government forced the Water Corporation to make a similar change.
