57-day gap in payment to smaller firms 'still too long': ISME

There has been a slight improvement in payment periods to small and medium-sized enterprises in this country.

The ISME Credit Watch Survey for the second quarter of this year shows credit days have decreased to 57 days on average, which is two days better than the previous quarter.

However, ISME CEO Mark Fielding (pictured), said larger companies were starting to slip back into their old ways:

"It has dropped down to an average of 57 days, but that is still too long," he said.

"We talk in terms of a 30-day credit period. Larger businesses are riding roughshod over smaller ones on this and demanding much longer periods of credit."