BHP will reduce payment terms for small, local and Indigenous businesses as part of a program to support its communities and regional economies during the COVID-19 pandemic.

BHP will make immediate payments of outstanding invoices. The accelerated payment program is expected to deliver approximately $100 million more quickly into the hands of our small business partners.

BHP will reduce payment terms to seven days (from 30 days) for more than 1,100 small Australian businesses.

BHP CEO, Mike Henry said looking after the well-being and safety of its people, communities and partners is the highest priority.

BHP Group headquarter.

“We are taking action to reduce the risk of transmission at our sites, in our offices and in our communities. Our local and small business partners play a critical role in supporting our operations and our people, and we know this is a very difficult time for them. We must look out for each other as we manage through this together,” Mr Henry said.

BHP has also created a $6 million fund to support its labour-hire companies and their employees. The fund will be used for one-off payments for people quarantined after entering Australia and pay for labour-hire employees not entitled to sick leave but affected by COVID-19.

BHP spends around $1.5 billion annually with local Australian suppliers.

A small business is defined as generating less than $10 million revenue, restrictions on FTE numbers have been removed.

The revised payment terms arrangements will take effect next week. BHP will contact eligible small business partners with more information in coming days.

Source: BHP

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Nicole Portilla
Nicolle Portilla is RTS’s Social Media Manager, and has been a valued member of the team since July 2018. She is responsible for content creation on all platforms, leveraging creative software, industry trends and research, and social media strategy to build upon the company’s online presence. Additionally, Nicolle contributes to the RTS blog, which serves to educate clients and industry players about our technology and sustainability efforts, and is responsible for the creation and dissemination of our internal and external newsletters. Prior to taking on the role of Social Media Manager, Nicolle served on the Sustainability team for nearly three years, assisting clients in achieving their sustainability goals through external communications and event organizing. Preceding Nicolle’s time on the RTS team is her work with Clean Water Action, where she promoted clean water initiatives. Nicolle graduated from Stony Brook University in 2018 with a B.A. in Sustainability.