Over 50% of small business owners in Ireland feel that the government should exert more pressure on banks to lend to SME's according to a survey compiled by BNI Ireland which gives a rare insight in to the mindset of the country's dominant SME sector.
As part of a poll to investigate issues facing small and medium sized business owners, BNI Ireland polled more than 1000 Irish members for their thoughts on the current state of Ireland's banking sector and economic outlook. Those surveyed said they were less than confident in banks supporting smaller enterprises with banks scoring a mere four out of ten on the confidence scale. Despite this, 57% of business owners said that they are investing more in their businesses this year than in 2012 with the highest level of investment being given to marketing followed by people and new equipment respectively.
Of those surveyed, 84% said that the economy has changed the way they do business, mainly by encouraging them to find more local suppliers. Almost three quarters said that they now deal with more local suppliers (i.e., less than a one hour drive away) than they did before the recession. The survey also revealed how small business owners are taking less holidays than last year with just 64% enjoying a summer break this year compared to 73% in 2012.
Sandra Hart, Executive Director, BNI Ireland South and West said that the poll is a clear signal that the government need to encourage the banking sector to do more for SME's. "Every day we see the pressure small businesses are under, much of which is due to non-compliance from their bank to grant them finance, and this needs to be addressed urgently by the government. Continuing to ignore the problem will see a further loss of jobs at a time when small businesses should be encouraged to create employment.
However, one of the most positive features of the poll is that Irish business owners are now dealing on a more local level which is hugely positive for the local economy and I hope this will continue long in to the future."
Irish business owners will have the opportunity to learn more about growing a successful business this October when business networking guru and founder of BNI, Dr. Ivan Misner will host a special conference in Carton House on Wednesday 9th October. Tickets for the one off event are available from www.bni.ie
