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Listen "To those people who think SMEs deserve to be paid late"
Episode Synopsis
Some people seriously believe suppliers absolutely deserve to be paid late, to adapt to the customer's cash cycle, as this recent post on LinkedIn bears out.
RIABU's Simon Littlewood and Mark Laudi almost choked on their breakfast when they read it, and respond in this podcast.
The author writes (abbreviations his): "The correct, ethical calc of payment times b/n buyers & suppliers s/b based upon the buyers' cash cycle. Here's an intellectual basis to my assertion: https://lnkd.in/gCwKsgA. During an economic crisis, it is ethical & correct for suppliers to wait longer to get paid if buyers' cash cycles have increased b/c inventory turnover has slowed. The correct solution in our brave new digital paradigm is for Govt to enable digital integration tech to connect the working capital needs of every SME supplier in Australia DIRECT to capital markets."
RIABU's Simon Littlewood and Mark Laudi almost choked on their breakfast when they read it, and respond in this podcast.
The author writes (abbreviations his): "The correct, ethical calc of payment times b/n buyers & suppliers s/b based upon the buyers' cash cycle. Here's an intellectual basis to my assertion: https://lnkd.in/gCwKsgA. During an economic crisis, it is ethical & correct for suppliers to wait longer to get paid if buyers' cash cycles have increased b/c inventory turnover has slowed. The correct solution in our brave new digital paradigm is for Govt to enable digital integration tech to connect the working capital needs of every SME supplier in Australia DIRECT to capital markets."
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