Small business registration
From 31 December 2019 registered small businesses will be paid within 5 business days of receipt of the invoice.
This is part of the NSW government initiative to help increase cash flow in small businesses by implementing faster payment terms. A small business is defined as one that has less than 20 full-time (or full-time equivalent) employees.
I am already registered with the Department of Education as a small business vendor, do I need to register again?
No, we have provided a list of all Small Business Vendors in our system to the Office of the Small Business Commissioner, the agency responsible for the register. You will already be included on the register and will remain in our system.
Any contracted payment terms previously negotiated with the department will remain as they are.
Schools are exempt from the payment terms, what payment terms apply?
The NSW Department of Education will aim to pay all registered small businesses in 5 business days, however, are not obliged to do so as part of the policy for schools at this stage. We encourage the use of PCards across the whole department for goods and services.
What can I do to make sure I get paid quickly?
The NSW government encourages all vendors to accept payment via a department credit card (known as a Purchasing Card or PCard). Payments up to $10,000 can be made via a PCard and ensures instant payment.