The Enterprise Europe Network Cyprus, the EU’s largest SME support network, invites you to participate in this important public consultation launched by the European Commission. The aim is to gather feedback from businesses and stakeholders on how to improve the framework for addressing late payments in commercial transactions across the EU.
Your input is essential in highlighting the real impact of late payments on businesses and in shaping future policies that better reflect market realities.
Every year, between 18 and 40 billion invoices are exchanged in the EU — more than 500 every second. At least 50% of these invoices are paid later than the agreed terms or the deadlines imposed by law.
“Late payments” in transactions between businesses, or between businesses and public entities, represent a serious issue for European companies, especially for Small and Medium-sized Enterprises (SMEs), as they can lead to:
- cash flow problems
- increased financing costs
- limited ability to grow and invest
- staff redundancies
- and even business closures
The Late Payment Directive, in force since 2011, sets rules to combat late payments in commercial transactions. In September 2023, the European Commission proposed a new Regulation to replace the current Directive. The proposal and its current status can be found HERE.
The European Parliament adopted its First Reading position in April 2024 with 459 votes in favour. Since then, the proposal has been pending in the Council, with several Member States calling for it to be withdrawn and replaced by a revised version of the existing Directive.
This consultation aims to collect views on:
- Policy measures to combat late payments
- The impact of late payments on businesses and stakeholders
The feedback gathered will help update the understanding of payment behaviour in the EU and support the design of more effective measures to address this challenge.
The survey will be made available in all official EU languages.
Please complete the Public Consultation by 25/09/2025 HERE.
For further inquiries, please contact us at 22889769/66/52/49 or via email at eency@ccci.org.cy
Soti Christou CCCI Officer | Department of European Affairs & Programmes Enterprise Europe Network Cyprus | Cyprus Chamber of Commerce & Industry | Tel. 22889769, Email: s.christou@ccci.org.cy