Time taken to pay creditors improves

Businesses are paying their creditors three days faster than a year ago. Average payments were made 16 days later than the agreed terms in the first half of 1997, according to a survey carried out by Dun & Bradstreet. This compared with 19 days in the first half of 1996.

The survey covered 16,512 credit transactions in the Republic and the findings varied county by county. The biggest delay, of 19 days, was in Westmeath. The shortest delay, of 12 days, was in Cavan. Manufacturers were the best payers with a delays ranging from 12 to 15 days. Retailers and wholesalers were the slowest with delays of between 16 and 18 days.