Continued caution amongst SMEs despite positive trading performance
Nov 9, 2015
The latest version of the SME Credit Demand Survey, April-September 2015 shows a positive trading performance, with 47% of SMEs reporting increased turnover. The RedC survey, commissioned by the Department of Finance, also shows an increase in bank approval rates to 85%.
Commenting on the results of the survey, Ian Talbot, Chief Executive, Chambers Ireland said, “The results show many positives for the trading performance of SMEs. It is, however, concerning that in spite of improved turnover and profitability that SMEs are focusing on consolidation, as evidenced in the decreasing demand for bank finance from 32% to 30% in last six months.
“The results of the survey show caution amongst SMEs, which may reflect uncertainty about the short term trading environment and future challenges such as, increases to minimum wage, uncertainty around flexible employment regulation, and uneven performance in our international markets. These results reinforce the need for Ireland to continue to improve the general environment for entrepreneurs and to address taxation and other issues that may be dampening appetite to expand and grow.
“It is imperative that we focus on controlling what we can control domestically, and bring some degree of certainty to our SMEs. This will help provide the foundation necessary for expansion and growth”.
For further information contact Susan McDermott, Chambers Ireland on 01 400 4331 or email firstname.lastname@example.org.
Chambers Ireland – Ireland’s largest business network creating the best environment for members locally, regionally and nationally.