images

Signs of Recovery but ‘Boom time’ debts still hampering SME Growth

Chambers Ireland has today (10/11/14) said that the latest report from the Credit Review Office shows that the recovery of Ireland’s SME sector is gaining momentum.

SMEs whose cases were reviewed by the CRO are more optimistic about their future, and with many predicting increases in turnover and profitability, they are aiming to grow.

Speaking this morning, Ian Talbot, Chief Executive, Chambers Ireland said “The entrance of the Strategic Banking Corporation of Ireland, and eventually PTSB, to the SME lending market will add to the various credit facilities already on offer from the banks, and help support this renewed growth amongst SMEs.”

“However, there is still a significant cohort of SMEs who are unwilling or unable to invest in order to grow. These businesses are hampered by debt they took on during the boom years, and whose main focus is now on refinancing or paying down these debts. This is in many ways a lost opportunity for Ireland’s economic recovery, as these businesses would under normal economic conditions be in a position to expand, grow their profits, and take on new employees,” he concluded.

 

For more please click:http://www.chambers.ie/media/news/2014/11/10/signs-of-recovery-but-‘boom-time’-debts-still-hampering-sme-growth/


Related Content

Leave a Reply

Your email address will not be published.

Signs of Recovery but ‘Boom time’ debts still hampering SME Growth

We use cookies to give you the best online experience. By agreeing you consent the use of cookies in accordance with our Privacy Statement and cookie settings in your Privacy Settings below.

Privacy Settings saved!
Privacy Settings

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie

Decline all Services
Accept all Services