Payment Practices Barometer

Summary conclusion

Ireland has been hit harder than most other nations around the globe as the economic downturn has taken hold. As we go to press, insolvencies continue to pose a very real threat to the domestic economy in Ireland and it is unsurprising therefore to note some of the results in the study, which reflect caution. A significant proportion of the business surveyed had experienced late payment, demands for extension to credit or other challenges to payment terms. However it isn’t all bad. The behaviours of foreign customers reflects slightly better payment practices towards their Irish suppliers. This means that export, historically a mainstay of the Irish economy, is likely to be key to full economic recovery.

Source: Payment practices barometer - Spring 2011

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Date: May 2011