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WAITING TIMES FOR commercial payments among small and medium businesses (SMEs) slightly improved in the second quarter of this year, with the average number of days for SMEs waiting to be paid now standing at 66 – down from 67 in the previous quarter.
However, big business and some government agencies remain the “main culprits” for late payments, according to the Irish Small and Medium Enterprises Association (ISME).
ISME praised the recent adoption of a voluntary code on prompt payments by SMEs, but said that big business must be forced to agree to the code in order to improve the cash-flow of SMEs.
Speaking at the launch of the SME Credit Watch Survey, ISME chief executive Mark Fielding said that the results of survey were “somewhat encouraging” and the Code of Conduct should have a positive effect on cash flow for SMEs. “However, the fact that IBEC have refused to be involved in this Code initiative is a challenge to Government, as big businesses are the main culprits in late payments. Government must therefore bypass IBEC and exert pressure on the multinationals, large businesses and state agencies through the IDA and Enterprise Ireland.”
The survey, which included 1,132 respondents in the week ending 28 June, found that the average payment period for SMEs in the second quarter of 2013 has improved from 67 to 66 days – this is the shortest period recorded since Autumn 2008.
Thirty-six per cent of SMEs are experiencing delays of three months or more, compared with 35 per cent in the first quarter of this year. Ten per cent of businesses are waiting over 120 days for payment, a deterioration of the March figure of 8 per cent.
Businesses in Ulster were found to wait the longest for payment on average, at 68 days, while businesses in Connaught fared better on average at 60 days.
Distribution and wholesale businesses wait approximately 73–71 days, while manufacturing businesses waited just 66.
ISME said that while overall credit has improved, it was renewing its call for a strict statutory 30 day payment regime for all businesses trading within Ireland, to be phased in over 3 years – which it said should be supported by Taoiseach. “It is now time to listen to the 82 per cent of SMEs who favour a mandatory 30 day payment regime, with no exceptions, which could be introduced over three years,” Fielding said.
The proposed scheme would see targets over three years, with average waiting time of 60 days in year one; 45 days in year two; and 30 days in years three.
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Eh McGuinness can’t vote….
He knows he’s not going to win so why bother go down and vote. He is probably not planing another bank robbery with people he doesn’t know
He is giving the other 6 a head start out of the goodness of his heart. That’s why he is not voting.
I am so dissapointed that the standard of our presidential candidates is so low !!!!! is that what we have become ??? Where is the Statesman or woman in that lot !!!!! Martin McGuinness ???? HOW COULD THE COUNTRY EVEN CONSIDER HIM AS PRESIDENT. Sean Gallagher !!! please , who does he think he is ??? a half baked go between for shady people………. and the rest, well harmless and hopeless. Our country has lost its way for sure.
MMG is not voting because he doesn’t have a vote. Like many 10′s of thousands of Irish citizens who live in the 6 counties we don’t have a vote. Ironically we can stand though !
Hopefully the forthcoming constitutional convention will right this wrong.
Yes that true it is wrong that you can stand to be the Irish President if your from a DIFFERENT COUNTRY. Hopefully that will be sorted soon.
Thought there was a moretoreum till voting closes tonight
only applies to “mandate broadcasting”…..ie Special Mary talking about her integrity and all that shite!!!
df you think to much
Or not!
I reckon they’ll all be in the toilet.
have your say