Small firms remain under pressure, says SFA

Date: 18th June 2010

Small businesses in Ireland continue to operate under "serious pressure", according to a new report.

The latest Business Sentiment Survey from the Small Firms Association (SFA) has revealed that more than half of the country's companies feel the overall business environment is "poor" or "very poor".

Just more than one-quarter (26 per cent) of the survey's respondents said they felt their own business's performance was "good" or "very good".

As a result, overall business sentiment remained unchanged, something that the SFA said could be attributed in large part to access to finance remaining challenging.

Avine McNally, the SFA's acting director, commented: "Small businesses' sentiment has remained unchanged as many still remain under pressure, as a result of being the victims of slow payment by creditors, the high cost of doing business and at the root of it all, cashflow problems.

"However, entrepreneurial businesses that are well structured and well managed will see opportunity in uncertainty; but they need assistance from government."

The SFA called on the government to develop a business environment that will help firms grow in the coming months.

Posted by Thomas Fletcher