Survey on payment of invoices

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It has emerged that businesses in Co Tipperary are among the slowest in the country to pay other businesses they owe money to.

On average, it took Irish businesses just over 23 days beyond invoice terms to pay their bills in the second quarter of this year.

It has been discovered that the county where businesses were the most prompt at paying their bills was Leitrim at 17 days beyond invoice terms.

Cavan businesses took the longest to pay their bills at 26.84 days.

However, County Tipperary was the sixth slowest county in the country, at 24.58 days.

The survey was carried out by Experian Ireland.

In publishing the findings, the Manager Director at the global information services company, Fin O’Donnell said that the delays in paying the creditors are improving.

However, he also warned Irish businesses that they need to operate with caution and carefully examine their credit policies and procedures to ensure they are only extending credit to those customers that are in a position to pay in a timely manner.