A benchmarking exercise has shown Toowoomba Regional Council’s (TRC) continued effort to assist local business through its 14-day payment strategy is best-in-class.
Council introduced a range of measures to assist local business at the height of the Covid pandemic and one such measure was to reduce its payment terms to local suppliers from 30 days end of month to 14 days date of invoice.
TRC Finance and Business Strategy Committee Portfolio Leader Councillor Kerry Shine said the measure had assisted local businesses involved in supplying goods and services to Council.
“During the Covid pandemic, Council introduced a range of measures to assist our local businesses and suppliers and this change to our payment terms is one we’ve made permanent because we know it works.
