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.