AGL has committed to pay small businesses within 14 days to lend support as the economy is hit by the impacts of the coronavirus.
Responding to the Federal Government’s call, AGL will implement processes to accelerate payments to small business suppliers for the next six months, with invoices to be paid within 14 days, down from 30 days.
CEO Brett Redman said AGL would always support Australia’s small business community.
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“We know our success relies on the success of hundreds of small Australian businesses. Accelerating payments to small suppliers during this time could make all the difference to the survival of a small business,” Mr Redman said.
“For any small supplier who isn’t getting paid within the 14 days, we urge you to get in touch. We commit to work hard to resolve the issues whenever we fall short.
“With more than 40 per cent of the Australian workforce employed by small businesses, keeping them going during tough times is important to all of us.”
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The move follows the Federal Government’s announcement of its coronavirus stimulus package and calls from the Prime Minister for big business to lend its support.
AGL will be implementing the changes to payments within the next two weeks.