A new online portal aimed at encouraging businesses to pay their suppliers on time is being launched today.
The 'prompt payment code of conduct', which has been developed by the Department of Jobs, the Irish Institute of Credit Management and business groups, aims to promote best practice between businesses and their suppliers.
Businesses of all sizes can now become signatories to the code which aims to improve cash flow and to drive a change in payment culture.
The Minister for Business & Employment, Ged Nash, is encouraging all businesses to sign up to the code.
"We have been practicing this in the public sector for some time," he said. "We want to make sure this issue is addressed and there is leadership on this issue, and that cashflow problems don't remain being an issue in terms of people being paid on time."