Suppliers demand faster payments

It is not unusual for small companies to have to wait 90-120 days for payments, meaning that recruitment and investment must wait. Legislation passed three years ago has not had any effect, according to suppliers, and they are critical of Enterprise Minister, Michael Damberg. The law means payments within the public sector must be made within 30 days but for private companies it is an issue of negotiation.

Michael Damberg says he is aware that long payment times are damaging to jobs growth but wants to first evaluate the earlier legislation before proposing new changes.