Credit Demand Survey gives valuable insight into understanding of Irish SME Covid-19 landscape - Donohoe
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
The Minister for Finance, Paschal Donohoe TD, has today published the latest in its series on SME Credit Demand Surveys which covers the period March – October 2020. This survey series is currently being conducted by Fitzpatrick Associates in conjunction with 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 ensures that it 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.
While the survey is conducted biannually, for presentation purposes, the report uses year-on-year comparisons.
Key results include:
On the publication of the SME Credit Demand Survey Minister Donohoe said:
‘I welcome the results of the latest SME Credit Demand Survey, March – October 2020, which give us important insights into how SMEs in Ireland area are dealing with the impact of COVID-19 restrictions’.
“One of our main concerns is to ensure that SMEs continue to have access to sufficient liquidity, and that access to credit for SMEs is maintained. The Government has announced a range of measures to assist companies deal with the consequences of the COVID-19 restrictions, and to ensure that they have access to sufficient liquidity and I particularly welcome the high level of awareness among SMES for these supports.
“I would like to take this opportunity to sincerely thank all those SMEs that took part in this survey. The SME Credit Demand Survey series allows us to gain vital understanding of the Irish SME landscape and is an invaluable resource that allows us to develop, refine and implement policy measures to support our indigenous businesses.”
ENDS
Note for Editors:
Background of Report
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 March – October 2020. Conducted by Fitzpatrick Associates in conjunction with Behaviour and Attitudes, all interviews took place between 25 August and 12 October 2020.
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 .
Summary and key findings
The following is the summary of results from the SME Credit Demand Survey. All interviews were conducted between 25 August and 12 October and covered the period from the onset of COVID-19 restrictions (mid-March 2020) to interview date. Throughout the report, the most recent wave of findings is compared with corresponding waves from previous September survey waves. This ensures that historical comparisons are being made on a like-for-like basis, taking any seasonal issues into account.
Trading Performance
Demand for Bank Finance:
Application Process:
Government supports: