ISME: Small businesses in danger of going bust because of late payments

Small businesses are in danger of going bust because of late payments from big business and state agencies, a new survey of 610 firms has found.

ISME, which represents smaller Irish businesses, said its spring SME Credit Watch Survey, released today, shows the “disastrous predicament” of many vulnerable traders.

Chief executive Mark Fielding said: “The challenges for small and medium businesses in accessing finance are being exacerbated by late payments from big business and state agencies. While this fact has been acknowledged by Government in its Action Plan for Jobs, scant action has been proposed and once more the SME sector is thrown to the wolves.”