Firms waiting 90 days for payment

Dublin businesses are now waiting an average of 90 days to receive payment for goods and services from debtors, compared to just 30 days a year ago, a new survey has shown.

“There is enormous pressure on companies to manage their cashflow,” commented Gina Quin, chief executive of Dublin Chamber of Commerce, which conducted the survey.

“Restoring stability in the banking system is part of the picture, but the Government can also help by ensuring it pays on time.”