MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Lack of finance preventing a third of businesses from expanding
Uncategorized
Dec 19, 2011 - 11:34

Lack of finance preventing a third of businesses from expanding

MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Lack of finance preventing a third of businesses from expanding

A LACK OF finance for investment is preventing one-third of Irish businesses from expanding their operations, according to a new survey.

The Business Monitor study carried out by InterTradeIreland showed fears for the future among company owners. Almost half of the small businesses surveyed said that they were either struggling to survive, shrinking, or winding up entirely.

Meanwhile, just 6% said they would be hiring new staff in the near future.

Many company owners were not satisfied with their bank. 70% felt that their lender had “little or no understanding” of their financial needs.

Advertisement

However, just one in ten businesses had approached their bank in the hope of securing more funding. Aidan Gough, strategy director for InterTradeIreland, said this reflected a lack of confidence in the banking sector.

He said businesses faced “a decline in customers, a fall in confidence and contraction in cash with each reinforcing the other, creating a vicious circle that is difficult to break out of.

"The fact is that nine out of 10 businesses are reluctant to approach banks for funding. The disconnect between the funding businesses require and what banks are willing to provide is an issue that has to be addressed," he said.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • Aidan Gough
  • Business Monitor study
  • finance
  • InterTradeIreland
  • strategy director
MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement