Late payments ‘putting smaller firms at risk’

Late payments are continuing to threaten the future of many SMEs, while the change in examinership laws is not having the desired effect on smaller businesses either, two separate studies have found.

The latest credit watch survey from representative body Isme, covering the first quarter of this year, shows that the average waiting period for outstanding payments for SMEs has inched up from 55 days to 59 since the end of last year.

Isme said that 86% of SMEs favour a statutory 30-day payments regime, with no opt out.