David Cullinane (Sinn Fein) | Oireachtas source

We are here to discuss supports we can give to the small and micro-business sector. An issue that has arisen frequently is that of prompt payments. The Minister will be aware of the EU directive on the matter, about which the organisations representing business - ISME and the Small Firms Association - are unhappy. They see it as a sticking-plaster solution. They carried out a survey this year which found that the average payment period in Ireland for SMEs is 71 days, an increase of two days on the previous quarter; that 40% of businesses are experiencing delays of three months or more; and that 14% are waiting for more than 120 days. Some of these are State contracts, and money is awaited from the State. Prompt payment is one of the many issues that affect business, and it needs to be dealt with. I would appreciate the Minister's views on the EU directive and what legislation can be introduced in the State, as the support organisations are calling for payment within 30 days to be enshrined in legislation. That would be their preference. They were very much opposed to the preference for 60-day payment contained in the directive.