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ISME greets launch of new Prompt Payment Code

ISME, the Irish Small and Medium Enterprises Association today (February 28th) welcomed the launch of the new Prompt Payments Code by Minister of State for Employment and Small Businesses, Pat Breen. The Association sees today’s launch as an important step in changing the culture around late payments. ISME encourages all its members to sign up to the portal.

  • Late payments undermine small businesses. Signing up to the Code sends out a positive message to suppliers. 
  • Signing up to the Code sends out a positive message to suppliers. Paying on time is the right thing to do.
  • Paying on time is the right thing to do.

Commenting on today’s launch, ISME CEO Neil McDonnell said “ISME has been lobbying for action on prompt payments for years. Late payments are constantly flagged by our members as a major issue, threatening the viability of small businesses”.

He added, “By signing up to the Code, businesses are sending a clear message to suppliers that they’re prompt payers. We encourage all businesses and their creditors to sign up to this portal, to help cultivate a change in attitude towards late payments”

ISME member, Eoin Fitzpatrick of Fitzpatrick Wholesales said “Running a business is hard enough. Having to hide from suppliers chasing payment is something I can do without. I get better deals from my suppliers because I am a prompt payer. All business should pay according to the agreed payment terms. Prompt payment does impose a discipline on a business, but it is worth it”.

For further information, please contact Neil McDonnell, Chief Executive.

28 February 2017