The study analysed the payment records of tens of thousands of Irish businesses, including those owned by overseas companies. On average, businesses in Ireland pay their suppliers 26.83 days beyond terms.

In the last six months businesses in all counties took longer to pay suppliers – businesses in Waterford saw the greatest increase (71.8 per cent to 24.12 DBT) and Sligo's businesses saw the smallest increase (1.56 per cent to 18.16 DBT). Cork ranked ninth in the table of counties with the greatest change in payment terms with an increase of 24.37 per cent.

Paula Carney, Payment Performance Manager at Experian's Business Information division, warned, "Everyone in business knows the damaging effects caused by customers paying their bills late, and our analysis illustrates the huge differences in the time it is taking Irish companies to settle up".

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