Oireachtas Joint and Select Committees

Tuesday, 11 February 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Access to Finance for SMEs: Discussion

2:30 pm

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

I have a final question. When we raised this in the Dáil before, the line that came back from the Government was that generally speaking it is waiting to see peer to peer financing or crowdfunding being established in other markets before we would do it here. Is it Mr. O'Mahony's view that it is established now? He cited figures from the UK along with some of the research points. If it is established in other jurisdictions and there is a reason to move here, what is the wish list? Looking at the kind of market this it is trying to fill, is it to move away from bank and big corporate funding while not being wholly dependent on government funding either?

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