Cash-flow has been identified as the number one difficulty for Chamber members during the COVID 19 pandemic. Cork Chamber today calls on the public sector to adhere to its prompt payment policy and those in the private sector to support fellow businesses during the crisis. Extension and deepening of existing supports to a 6-month window is also essential.
Conor Healy, CEO of Cork Chamber said,
“It is essential that the Government prompt payment policy is observed and that no business is left waiting at a critical point for cashflow. In parallel, any business that can, should be prompt in payment to suppliers. We are all one business community and we are mutually dependent for our economic recovery.
It also is essential that every Government related charge which impacts on cashflow such as VAT, PRSI or commercial rates, as well as other costs such rent, mortgages, loan repayments and utilities controlled by financial institutions and others are deferred and effectively underwritten by government for a minimum of six months. The initial Government measures are comprehensive and welcome but need to be deepened and extended further.
When we reach our economic pivot point, as many businesses as possible need to be in a position to open their doors, welcome back their teams and warm our strong economy back up again.”