ISME: Govt should stand up to big business on prompt payments

The Irish Small and Medium Enterprise association says the Government needs to stand up to big businesses and ensure prompt payments for small and medium firms.

ISME says businesses are waiting more than 60 days to be paid by bigger companies and government agencies.

The business group is calling for a change in the Prompt Payments legislation, calling for the introduction of a statutory 30-day payments regime for all businesses trading within Ireland with other Irish based enterprises.

CEO of ISME Mark Fielding says the Government needs to stand up to big business.

He said: "Small and medium businesses rely heavily ona smooth cashflow from their customers in order to pay their bills, buy the stock and take advantage of market conditions and pay wages and taxes.

"The Government themselves are lax on this one, while their own collector general doesn't wait around to get their taxes.

"So what we are saying is that the Government should stand up to big business and insist on prompt payments across the board. "