Payment term of 30 days for half a billion EUR worth of SME invoices

So reveals a report on the first six months of Betaalme.nu, the Dutch initiative in which large companies and organizations pledge to pay their SME suppliers more quickly. Recruitment agency Olympia Nederland and meat production company Vion have also come on board, bringing the total number of Betaalme.nu participants to 34.

Betaalme.nu aims to free up money for SMEs that is tied up in outstanding invoices. The participating large companies and organizations each have their own pledge in which they indicate what they will do to achieve this goal and promise to frequently report on their compliance. This allows the tracking of the degree to which participating companies are successfully living up to their commitments.

The first report since the launch of Betaalme.nu in November 2015 is now available. This report is based on data for the first six months 2016 and the 276 participating companies.

Most Betaalme.nu participants use a payment term of 30 days for their smallest suppliers, i.e. companies they pay no more than EUR 50,000 to annually. The report shows that a total of half a billion EUR worth of invoices from approximately 80,000 SMEs have a maximum payment term of 30 days. The report says that 79% were indeed paid within 30 days during that period. This first report is just a starting point for Betaalme.nu.