Credit Demand Survey April 2022 - September 2022
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Published on
Last updated on
The Department of Finance has today published the latest in its series on SME Credit Demand Surveys which covers the period April 2022– September 2022. This survey series is currently being conducted by Behaviour and Attitudes, on behalf of the Department of Finance. It is the most comprehensive survey of SME Credit Demand in Ireland, covering over 1,500 respondents through in-depth discussions. The survey captures a full picture of the SME landscape in Ireland, with micro-enterprises, small-sized enterprises and medium-sized enterprises accurately represented as per the percentage make-up of SMEs in Ireland. The survey is conducted biannually.
Throughout the report, the most recent wave of findings (referred to as September 2022) is compared with corresponding waves. This ensures that historical comparisons are being made on a like-for-like basis, taking any seasonal issues into account.
Key results include:
On the publication of the SME Credit Demand Survey Minister for Finance Michael McGrath stated:
“I welcome the results of the latest wave of the SME Credit Demand Survey. It enables Government to gain a critical understanding of the Irish SME landscape. This in turn enables Government to develop, refine and implement policy measures to support SMEs that are critical to Ireland’s economic performance and an important source of employment across the country. For example, the survey series has provided an evidence base to help inform Government’s response in supporting SMEs facing rising energy costs and the cost of doing business via the launch of the Temporary Business Energy Support Scheme (TBESS) and the forthcoming launch of the Ukraine Credit Guarantee Scheme (UCGS) and the Growth and Sustainability Loan Scheme (GSLS). I would like to thank the businesses that partook in this survey wave."
SME Credit Demand Survey – April 2022 to September 2022
The SME Credit Demand Survey has been conducted biannually since 2011 to monitor trends in access to credit by SMEs. Please note while the survey is conducted on a 6 monthly basis, for presentation purposes, the report uses year-on-year comparisons.
The report published today presents the results from the SME Credit Demand Survey April 2022 – September 2022. Conducted by Behaviour and Attitudes, all interviews were conducted between 11 October and 1 December 2022 and covered the period from April 2022 to September 2022.
The department has conducted the SME Credit Demand Survey in order to have an independent and statistically significant report into the Irish SME landscape and the availability of, and demand for, credit that exists for SMEs. The survey was conducted through a telephone survey covering over 1,500 businesses. It drew a carefully constructed sample from a large database of SMEs, made repeated calls to ensure a full response and asked factual questions. The full questionnaire is included in the report. The report and previous reports are available on the Department of Finance website at: SME Credit Demand Surveys.
The results will be used to monitor the sector, identify any changes or emerging trends and to feed into the development of policy options with colleagues in other government departments including Enterprise, Trade and Employment and Agriculture Food and the Marine for Government to consider.
This report contains the results of the Department of Finance SME Credit Demand Survey. All interviews were conducted between 11 October and 1 December 2022 and covered the period from April 2022 to September 2022. Throughout the report, the most recent wave of findings (referred to as September 2022) is compared with corresponding waves. This ensures that historical comparisons are being made on a like-for-like basis, taking any seasonal issues into account.
Please note that due to COVID-19 restrictions, no interviewing was possible for the same period in 2020.
A large majority of SMEs are aware of Enterprise Ireland (90%), Local Enterprise Offices (80%), and the Credit Guarantee Scheme (63%). 44% were aware of the Credit Review Office, and 52% were aware of Microfinance Ireland Supports. Just 5% were not aware of any government support.