As per Stuart Nash, Minister of Small Business, the new data from Xero indicated that there is an urgency of quick payment practices to SMEs (small and medium enterprises) when the country is moving into economic recovery.
- Xero has published an assessment of SME cash flow under the Alert Level 4, which shows business revenue started to fall once the first of COVID-19 case was reported in the month of February, before the lockdown in late March;
- The government has a target of 95% of invoices to be paid in 10 working days.
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