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Early payments: an answer while businesses chase JobKeeper cash to pay staff
Payments from the Federal government’s $130 billion JobKeeper funding package as part of fighting the economic downturn due to COVID19, will start landing in the employers’ accounts from the first week of May.
Meanwhile, the employment-generating hub of Australia, as small and medium businesses are aptly described, are desperately engaged in a chase for cash to cover the labour costs of six weeks, from March 30 to mid-May.
To keep paying their staff and fulfilling other financial obligations, most businesses have opened overdraft facilities with Banks for huge rates of interest and are constantly looking to borrow.
It is in this context that Robert Gottliebsen from The Australian highlights Earlytrade and its suite of products and services that can help stimulate supply chains and could generate a multifold amplifier effect for economic recovery.
Gottliebsen calls attention to the industry best rates that Earlytrade could offer along with the ability to identify & exclusively support small/local and indigenous suppliers in complex supply chains with the help of modern technology. In addition, he mentions early payments as a better source of funds than borrowing; given large businesses are willing to take this initiative to support and strengthen their supply chains.