As part of its response to the spread of COVID-19, BHP says it is accelerating payment of outstanding invoices and the reduction of payment terms for its small business partners and regional communities.
This support will see payment terms cut from 30 days to seven days for more than 1,100 small Australian businesses from next week, it said.
The accelerated payment program is expected to deliver around A$100 million ($57 million) more quickly into the hands of its small business partners, the company said. In this context, a small business is defined as generating less than A$10 million in revenue.
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