SFA supports Prompt Payment Code of Conduct

Friday, 3 April 2015

  • SFA supports Prompt Payment Code of Conduct
  • Average payment in Ireland remains at 62 days
  • SFA calls on all businesses and public/semi-state bodies to sign up to the Code

The Director of the Small Firms Association (SFA), Patricia Callan, has welcomed the launch today of the Prompt Payments Code portal, by Minister for Business & Employment, Ged Nash, TD. "The SFA has been working on this project over the past number of years, and is signing up to the Code itself and encouraging all our members, and the broader business community, public & semi-state organisations to do likewise."

"Late payments in Ireland compound an already difficult financial environment for many small firms. The average payment in Ireland takes 62 days according to a recent SFA survey of members. Getting paid on time is a never ending problem for most small businesses. Late payment causes serious cash flow problems; requires firms to extend overdraft facilities and consumes a great deal of management time. This in turn affects the ability of the business to compete, be profitable and grow.”

"This Code aims to change our culture to one that pays its bills on time. Our ambition is that businesses will choose who to do business with on the basis of whether or not they are a signatory to the Code, which should encourage many more businesses to sign up over time", concluded Callan.

Ends.

For further information, please contact Patricia Callan, SFA Director, at Tel: 01 605 1602 or 087-6999345, e-mail: patricia.callan@sfa.ie, Twitter: @SFA_IRL
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