Following the publication of the second Chamber Network survey Chambers Ireland and our nationwide Network of Chambers has today (10 April 2020) called on Government to join Chambers in calling for engagement with the prompt payment legislation and to send a message to business, both public and private, that if you can pay, you should do so on time.
The survey, which has over 1,100 responses (1,149) was conducted between 3 April and the morning of 6 April 2020.
Speaking today, Chambers Ireland Chief Executive Ian Talbot said,
“Cash is king, as the saying goes, and we’ve been calling on businesses in our Network who can pay their bills, to pay their bills. Cash flow has been identified as a significant problem for businesses since the start of the crisis. Unless we can keep money moving in the economy, we risk exacerbating and prolonging the impacts of the recession to come.
Within our survey, we asked businesses if invoices were being paid by state bodies early and on time. While the majority confirmed this was the case, a significant minority (33%) said that payment was taking longer than 15 days.
We have been raising this issue with Government for a number of weeks and we are now calling on them to make an immediate statement on this matter and join Chambers in calling for bills to be paid on time by those in a position to do so.”