From www.asbfeo.gov.au: The Australian Small Business and Family Enterprise Ombudsman supports the government’s response to the Murray Review of Security of Payment Laws, which aims to ensure timely payments for tradies and subcontractors within the construction sector.

ASBFEO highlights the detrimental effects of cash flow issues and illegal ‘phoenixing’ practices that harm small businesses, urging stronger protections against unfair practices.

Improved ASIC funding for enforcement and the creation of a Federal Small Business and Codes List are proposed to help small businesses pursue their rights more effectively.