Latest InterTradeIreland Report Published – 'Access to finance for growth for SMEs'
The report contains a series of recommendations to address two key areas - information and financial capability - and are designed to support work already on-going in both jurisdictions.
Key report findings include:
Demand is seen at least as important, if not more important than supply, as the key SME finance issue.
Businesses are over-reliant on bank funding
Most SMEs are approved for bank finance when they apply formally
A lack of investment is potentially damaging SMEs businesses
Direct government funding represents less than 1% of total SME finance
Poor knowledge of finance schemes exists amongst SMEs and their advisors
The SME support infrastructure is more developed in Ireland compared with Northern Ireland
Equity finance is now a significant source for SMEs
Download a copy
To find out more information about the report findings and recommendations you can download a copy of the report here.
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