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Access to finance

Ireland


				Ireland

Summary

According to the Small Business Act (SBA) Fact Sheets access the Irish SME sector has started to recover after the 2008 crisis, which was prompted by the housing bubble bursting, followed by the crash of the banking sector, and the subsequent spending cuts and tax increases needed for fiscal consolidation. SMEs were affected more than large enterprises, and lost one-fifth of their economic value added and 17% of their workforces from 2008 to 2012. In 2013 and 2014, the SME sector is expected to grow by 2.6% in 2013 and a further 3.7% in 2014, but a full recovery to pre-crisis levels is still not in sight. Ireland offers a business-friendly environment, supported by an efficient administration, responsive to the needs of businesses, and an innovative and entrepreneurial business culture. To boost Ireland’s SBA profile, it will need to improve access to finance for SMEs, streamline the ‘think small first’ principle in policy making, and provide more support for businesses to export within the single market and to third countries.

Key indicators on access to finance
SMAF
SMAF gif - 19 KB [19 KB]

Ireland ranked 16th out of 27 countries in the 2012 SMAF Index

For details on SMAF index and methodology please click here.

Download data excel12book - 593 KB [593 KB]

Loans
Loans gif - 36 KB [36 KB]

Source: Chart compiled using ECB data

Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).

Download data excel12book - 69 KB [69 KB]

Venture capital
Venture capital gif - 43 KB [43 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

Business angels finance
Business angels finance gif - 24 KB [24 KB]

 

Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs pdf - 283 KB [283 KB]

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