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IRISH SMALL AND Medium Enterprises think that recent improvements in the economy are ‘fragile’ and are slow to pursue new growth opportunities.
That’s what a new survey of business owners carried out by Red C for the Department of Finance has found.
The credit demand survey report found that there has been a slight improvement in trading conditions during the period from October 2013 to the end of March this year, but that it was to a lesser degree than seen in September 2013.
Notably, it found that for many SMEs, increased sales do not translate into improved profit performance.
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Over one-quarter of businesses are still struggling with a decreasing trading performance.
Loan approval rates
Approval rates from banks for applications for credit from SMEs are relatively stable at around 65 per cent when undecided applications are included.
The survey, which took in the opinions of around 1,500 SME owners, found that there is an improvement in perceptions about bank lending to the sector, although many believe that the percentage of approved loans is still too low.
The majority of loans that are approved are done so with conditions attached, although the percentage of loans that go through unconditionally has increased to 29 per cent from 22 per cent last September.
The government also should do more to communicate about the non-bank sources of finance available to the SME sector, Red C recommended, while also flagging a diminishing awareness of the Credit Review Office among respondents.
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There have been many articles regarding SME’S appearing lately….particularly in this journal. It seems to me that the only thing they have in common is the confusion over statistics and whether there is an upturn or not. The government are desperate to relate a feel good factor….but for many small retailers it just isn’t there. The situation is as testing as ever and discretionary spending has been squeezed dry for many middle income families. The banks, local council rates and revenue are all heaping more and more pressure on these groups. If this sector does not get a real break soon many of them will be permanently broken.
So they had previously being pursing a strategy of ignoring the inevitable arrival of a global market? Very inconsiderate of the world to change around them.
People have no money to spend as most of their money goes towards paying their mortgages. Lower the price of homes and there will be more money to go around.
Level of supply and demand dictates price of houses not Government, at least not in the short term.
Agent of Gov, NAMA, is tasked to recover quick bundles to sort out mess on its own doorstep
Those continuous large bundles arriving from the overseas Vulture Funds into Dublin market eliminates any chances of reasonably priced homes becoming available in our capital anytime soon.
Government needs to steer FDI away from The Pale exclusively to the regions for a few years to bring equilibrium to Dublin residential property market.
Line from Drogheda, Navan, Kilcock and Naas should represent City limits. New FDI therefore to at-or-outside this line.
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