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Survey: Small businesses waiting around 67 days to be paid
The figure is slightly better than it was a few months ago – but one third of businesses are still waiting more than three months to be paid.
SMALL BUSINESSES ARE waiting an average of 67 days to be paid – while one third have to wait more than three months.
The survey of 972 small business owners by ISME showed that businesses are being paid slightly faster than they were a few months ago, however.
Leinster businesses have the shortest average wait at 64 days while companies in Ulster have the longest wait at 76 days.
ISME said that 8 per cent of respondents were waiting over four months to be paid, which is a drop of 6 percentage points since the last time the survey was carried out in December.
The business group said the government should increase tighter controls to ensure companies get paid on time.
“There is no point in our Taoiseach hoping that Ireland becomes the ‘best small country in which to do business by 2016′, while his Government turns a blind eye to big business and State agencies gouging their smaller suppliers by demanding and taking excessive trade credit,” said Mark Fielding of ISME.
The group is calling for the government to implement a statutory 30 day payment system for all businesses trading in Ireland.
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