RELIEF FOR CASHFLOW PROBLEMS
A €100 million “fighting fund” to help Irish small businesses free up credit without resorting to bank loans or overdrafts has been established by Close Invoice Finance.
Tag: cash flow
FUNDING FOR START UP COMPANIES
An Irish joint venture operation is to review 300 business plans in the coming year before putting up to 100 of them to syndicates of potential investors. Halo Business Angel Network (HBAN) hopes to be able to assist more than 25 of those pitching for business, with funding of between €250,000 and €1.25m being provided.
SMALL BUSINESS CASH FLOW
The Government will order state bodies and public sector agencies to pay their suppliers quicker in a bid to ease the cash-flow crisis affecting Irish businesses, The Sunday Business Post reports.
Since last June, Government departments have been obliged to pay their bills within 15 days of receipt of a valid invoice and this policy will now be extended across the broader public sector. At present, non-government agencies have a calendar month to pay.
A recent survey by the Small Firms Association (SFA) found some businesses have had to wait almost 11 weeks for payment. The SFA also claimed the health service was ignoring the government commitment on settling its bills.
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