• About Us
  • Advertise with Us
  • Contact Us
  • Offers
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
  • About Us
  • Advertise with Us
  • Contact Us
  • Offers
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
NZBusiness Magazine

Type and hit Enter to search

Linkedin Facebook Instagram Youtube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
NZBusiness Magazine
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
News

Businesses chase $2.5 billion in unpaid invoices

New Zealand’s small businesses are owed $2.5 billion in unpaid invoices each month, with staff spending 18 million hours a year chasing them.

Glenn Baker
Glenn Baker
September 30, 2013 2 Mins Read
455
Research carried out for Kiwibank has revealed that New Zealand’s small businesses are owed $2.5 billion in unpaid invoices each month, with staff spending 18 million hours a year chasing them.
The survey this month of 411 Kiwi businesses with 19 or fewer staff shows that 67% of them are waiting for payment on overdue invoices each month. Two thirds of companies ask for payment on terms that fall within a month of an invoice being issued.
Across the 455,907 business in this category there is a monthly average of just under seven overdue invoices. The average value of each invoice is $823, making a total of $2,553,079,200 unpaid across the nation each month.
Reasons for unpaid invoices include customers who are regularly slow (61%), cash flow problems (47%), delays in the administration (30%), disputes about the work undertaken (17%), and customers going out of business (14%). 
Unpaid invoices also affect productivity. A business owner or staff member has to contact debtors at least twice to get them to pay. This takes the equivalent of a week each year in someone’s time for each business. 
That means that across New Zealand, the owners or staff of businesses are collectively spending 18 million hours a year trying to get invoices paid.
Kiwibank’s head of Business Banking, Mark Stephen, said the economy could perform better if people paid bills speedily.  
“Unpaid invoices cause cash flow problems, which make it tougher for companies to stay in business. That has serious consequences for New Zealand.”  
“Eighteen million work hours a year is wasted just getting people to pay their bills. That’s time which would be better spent selling more goods and services,” he said.

Share Article

Glenn Baker
Follow Me Written By

Glenn Baker

Glenn is a professional writer/editor with 50-plus years’ experience across radio, television and magazine publishing.

Other Articles

Living Wage
Previous

Lively debate over living wage

Akld North Awards
Next

Winners announced in Auckland North annual business awards

Next
Akld North Awards
October 1, 2013

Winners announced in Auckland North annual business awards

Previous
September 30, 2013

Lively debate over living wage

Living Wage

Subscribe to our newsletter

NZBusiness Digital Issue – June 2025

READ MORE

The Latest

Business for sale website NZBizBuySell acquired by Bizstats

August 14, 2025

FleetPartners launches smarter way for Kiwi businesses to choose and lease vehicles

August 14, 2025

How to grow your brand online (without doing the most)

August 7, 2025

Kiwis rank among world’s most entrepreneurial minds, study

August 7, 2025

Does your sustainability training line up with reality?

August 7, 2025

The next wave of Kiwi innovators rises on the back of global momentum

August 7, 2025

Most Popular

Understanding AI
Nourishing success: Sam Bridgewater on his entrepreneurship journey with The Pure Food Co
NZ fintech in process of launching first bank designed for Open Banking and AI
Still learning after all these years
Economy, AI, and exports dominate 2025 business outlook

Related Posts

Business for sale website NZBizBuySell acquired by Bizstats

August 14, 2025

Kiwis rank among world’s most entrepreneurial minds, study

August 7, 2025

The next wave of Kiwi innovators rises on the back of global momentum

August 7, 2025

Surcharge ban to shake up payment practices for SMEs and retailers

July 28, 2025
NZBusiness Magazine

New Zealand’s leading source for business news, training guides and opinion from small businesses to multi-national corporations.

© Pure 360 Limited.
All Rights Reserved.

Quick Links

  • Advertise with us
  • Magazine issues
  • About us
  • Contact us
  • Privacy policy
  • Sitemap

Categories

  • News
  • Entrepreneurship
  • Growth
  • Finance
  • Education & Development
  • Marketing
  • Technology
  • Sustainability

Follow Us

LinkedIn
Facebook
Instagram
YouTube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability