Days to pay : 30max !
The 30max campaign aims to urge public administrations to respect the terms of the revised EU Late Payment Directive and pay bills to businesses within 30 days. Too many public bodies in the EU delay payments to businesses, often far, far beyond a one month period with sometimes devastating consequences, particularly for smaller companies. Public contracts make up about one-sixth of the EU’s GDP, so the campaign coordinator, EUROCHAMBRES, views the simple measure of paying public bills on time as crucial to restoring cash-flow in the economy. It is also crucial to restoring businesses’ confidence in Europe’s policy makers.
Did you know, that…
- The public sector remains the slowest payer in the EU
- The average length of payment in public sector reduced from 61 to 58 days
- About 69% of businesses do not feel that their government helps to protect them from the risk of late payment
- About 46% of businesses forecast payment risks will increase
- The highest risk of late payment is expected in Portugal, Greece, Spain, Romania and Italy
- About 51% of businesses blame administrative inefficiency for late payments, an increase compared to last year
- About 55% of businesses expect a loss of income due to late payments
- About 63% businesses expect a liquidity squeeze due to late payments
- About 50% of businesses expect reduced growth perspectives due to late payments*
* Source: Intrum Justitia, EPI 2014