The findings of the latest Linked Finance SME Confidence Index are certainly consistent with our experiences with our clients.
Two-thirds of SMEs say access to credit remains difficult (irishtimes.com)
The dual impact of price inflation and full reopening is squeezing working capital for businesses and their ability to access fast and flexible short term financing options are quite limited. The supports put in place over the past two years – in particular the Revenue Warehousing arrangements - are now becoming a legacy issue that has to be addressed in any banking application. These are also another factors holding back businesses ability to access the optimum levels of short term funding with the main banks.
It’s unquestionable that there is lot of activity and positivity in the economy as the last of the restrictions are lifting. With interest rate rises on the horizon it’s really important for all businesses to get a clear view of the their short and medium term cash flow forecasts to identify and plan for any potential shortfalls. Indeed it is an opportune time to review the overall financing lines in place to make sure the business is well funded to take advantage of opportunities that are arising. There are lots of different types of finance available outside of the three main banks and these are certainly worth exploring to maximise the availability of suitable finance.
Contact Us
If you would like to know more about different types of finance available, contact our Corporate Finance Team:
- Chris Ball, Corporate Finance Partner (090) 6480600
- Eddie Darby, Corporate Finance Director (01) 6440100
- Jennifer Brennan, Corporate Finance Senior Manager (090) 6480600
