CONFAPI, the Italian Confederation of Private Small and Medium Industries (INSME Member) achieved an important result in support of SMEs. The Italian Government has indeed welcomed CONFAPI proposal to reduce the time available for payments among private entities and this will considerably support SMEs competitiveness. As demonstrated by a research carried out by CONFAPI bringing the time available for payments from 150-180 to 60 credit days will produce a decrease of SMEs’ debt up to 55,45%.
If on the one hand this proposal approved within the framework of the so-called ‘Simplification Decree’ will improve SMEs conditions, on the other one it enables Italy to be compliant with the European Directive 2011/7 about the regulation of payments for commercial transactions between public companies and private enterprises which establishes the terms of 30/60 days for public administration to pay credits to private companies and foresees financial penalties if the terms are not respected.
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Source: CONFAPI, the Italian Confederation of Private Small and Medium Industries
