Working on a story about payment cycles in businesses big and small in Western Colorado and would love to get local business input. This just in from AdAge and its a pretty scary trend for their suppliers who are small businesses: The maker of M&Ms and Snickers confirmed to Ad Age that it has sought to extend the period before suppliers get paid to as long as 120 days. We can confirm that while our objective is 120 days, there is a spectrum of days payable with each of our vendors based on various factors including geography and scope, the company said in a statement. The reason we made this move to 120-days payment terms is to align closer to the trends of our peers. Ad agencies and media are on their list of supplier types, FYI.
Posted on: Fri, 23 May 2014 17:41:02 +0000
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