merrion street

The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today welcomed the publication of the independent report on the demand for credit by SMEs.

"With this report, the Government has carried out a comprehensive, independent survey on the demand for credit by SMEs. Access to credit is a major issue for many of the small businesses on whom we depend to create the jobs and economic growth which we so badly need, and is an area in which Government will intervene to create a better environment for job-creation in Ireland.

"This very welcome publication will now provide Government and other stakeholders with large amounts of detailed information which will lead to informed, targeted policy decisions in this area.

"One key finding of the report is that micro-enterprises have suffered particularly from the downturn, and are subject to more credit refusals than other businesses. Micro-enterprises will have a key role to play in creating the employment that will get us out of this crisis, which is why last week the Government announced details of a €100million Micro Finance Loan Fund, which impact 5,000 businesses and will be in place in the first quarter of 2012.

"The Government last week also announced details of a Temporary Partial Credit Guarantee Scheme, to ensure that more credit can flow to viable SMEs on the margins of commercial lending decisions. I look forward to hearing the responses of interested parties to the findings of this report and will take further action as necessary to make it easier for small businesses to establish, expand, and create the jobs we so badly need".