Given the right conditions, the small business community is the country's hope for the future in terms of economic development and job creation. That is according to the Small Firms' Association's Chairman Aidan O'Boyle.
'Now is the time for Government to recognise the key role which small business plays in our economic and social success and to provide the small business sector with the confidence and supportive environment to ensure future success,' he states in the SFA's end of year statement.
He says that access to finance is still a critical issue for many small firms and adds that cashflow is the life blood of any business.
'While the recent announcements from banks of additional SME finance funds, the promised 10% increase in lending to SMEs as part of the Government's recapitalisation plan, the forthcoming funds from the European Investment Bank are welcome, it is delivery on the ground that is important,' he states.
Mr O'Boyle also says that the country needs to focus on management training as many owner-managers of small companies set up their businesses in the Celtic Tiger years and do not have the skills necessary to lead their businesses through recessionary times.
He also called for a more focused approach to export-led growth and said that policies have to change to make sure that all companies have the capacity to grow and internationalise.
