{"id":4080,"date":"2020-04-08T19:22:05","date_gmt":"2020-04-08T19:22:05","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=4080"},"modified":"2020-04-08T19:22:05","modified_gmt":"2020-04-08T19:22:05","slug":"forget-toilet-paper-everybody-just-wants-to-be-paid","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/forget-toilet-paper-everybody-just-wants-to-be-paid\/","title":{"rendered":"Forget toilet paper &#8211; everybody just wants to be paid"},"content":{"rendered":"\n<p>On March 11, 2020, the World Health Organisation\ndeclared COVID-19 as a pandemic. In the 24 hours following that, Earlytrade\nwitnessed $51.4 million of early payment requests from Australian small and\nmedium-sized businesses. This was a 650% increase in Earlytrade\u2019s average daily\ntrading volumes.<\/p>\n\n\n\n<p>The week following March 11, 2020, the company saw over\na quarter of a billion of early payment requests made on the Earlytrade\nmarketplace.<\/p>\n\n\n\n<p>\u201cForget toilet paper, everybody just wants to be paid, \u201d\nGuy Saxelby, CEO of Earlytrade said. <\/p>\n\n\n\n<p>Having seen the excessive demand for ethical working\ncapital solutions in the market, Earlytrade has responded to COVID-19 with the\nlaunch of new products in addition to its existing core product, the early\npayment marketplace. These products are mainly designed to support small\nbusinesses as well as stimulate the economy and help boost the entire supply\nchain. <\/p>\n\n\n\n<p>\u201cWe have ambitious plans for 2020. Although it is\nimpossible to predict the ultimate cost of the pandemic, we are viewing\nCOVID-19 as an opportunity to innovate and disrupt traditional payment\npractices around the world using technology,\u201d says Piers Symons, CTO and\nCo-Founder of Earlytrade.<\/p>\n\n\n\n<p><strong>Earlytrade\u2019s\nresponse aims to:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Offer early payment to small businesses for free<\/strong><\/li><\/ol>\n\n\n\n<p>There is a huge social need\nfor early payments to small businesses to help them survive as well as sustain\nthem. Making early payments free will be hugely beneficial for this segment of\nbusinesses. <\/p>\n\n\n\n<p>To scale this up, Earlytrade\nis in conversation with policymakers and government agencies to help release\nbillions of dollars in cash flow into the Australian economy and help support\nsmaller businesses by paying them first.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Support\nSmall\/Local\/Indigenous businesses<\/strong><\/li><\/ul>\n\n\n\n<p>The first draft\nrecommendation on the ASBFEO review of Supply Chain Finance last month, was the\ndifficulty in defining and identifying small\/local and indigenous businesses.\nAs a technology company, Earlytrade aims to launch \u201cEarlytrade Verify\u201d that\nwill disrupt the payment arrangements for these businesses in Australia in the\ncoming few weeks.<\/p>\n\n\n\n<p><strong>About Earlytrade<\/strong><\/p>\n\n\n\n<p>Earlytrade is Australia\u2019s\nlargest marketplace for early payment. The company was founded by Guy Saxelby\nand Piers Symons in 2016. It delivers an ethical and robust solution to\nbusiness payments, helping over 37,000 suppliers across Australia and New Zealand\nget paid sooner. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlytrade is Australia\u2019s largest marketplace for early payment. The company was founded by Guy Saxelby and Piers Symons in 2016. <\/p>\n","protected":false},"author":2,"featured_media":4081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[501,1040],"tags":[998,1038,1039,1037],"class_list":["post-4080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-press-releases","tag-bitcoin-payments","tag-covid-19","tag-early-payment","tag-earlytrade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forget toilet paper - everybody just wants to be paid - Futures and Options<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/forget-toilet-paper-everybody-just-wants-to-be-paid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forget toilet paper - everybody just wants to be paid - Futures and Options\" \/>\n<meta property=\"og:description\" content=\"Earlytrade is Australia\u2019s largest marketplace for early payment. 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