Commenting on the launch of the Fianna Fáil and Fine Gael manifestos, and their implications for Ireland’s SME sector, Mark O’Rourke, Managing Director of Bibby Financial Services Ireland, said:
“The inclusion of specific measures to support Irish SMEs in the parties’ manifestos is encouraging news for the sector. Irish SMEs have been very vocal for some time that more support is needed from Government if they are to keep pace with large multinationals. The proposed changes to capital gains tax will be welcomed by businesses as one way of strengthening Ireland’s start-up culture, as will the suggestion of a dedicated taskforce to help the sector remain competitive.
“However, more outside the box thinking will be needed to address the relatively low numbers of SMEs trading internationally. Rising costs remain an ever-present challenge, affecting both day-to-day trading operations and businesses’ long-term prospects for growth. More will need to be done to help businesses being squeezed and suffering cashflow pressures as a result, particularly as the full effects of Brexit on Irish SMEs remain to be seen.”
Bibby Financial Services Ireland is a leading provider of financial support and funding solutions to Irish SMEs. The company helps businesses to thrive and grow in domestic and international markets by providing tailored and flexible funding solutions for a range of scenarios including cashflow funding, new equipment purchase, growth and expansion, management buy-ins and buy-outs, refinancing, corporate restructuring and mergers and acquisitions.
Bibby Financial Services Ireland’s funding portfolio includes confidential invoice, trade and export finance, foreign exchange services, bad debt protection and specialist funding for a range of sectors. With a 95% client satisfaction rating, our clients have confidence that we support their business.
Bibby Financial Services Ireland is part of Bibby Financial Services Group, a leading global financial services partner operating in 40 locations across 14 countries. With 40 years’ experience, the business has a funding capability that exceeds £1 billion and an annual collective client turnover of £10.1 billion.