Oireachtas Joint and Select Committees

Tuesday, 6 May 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Access to Finance for SMEs (Resumed): Credit Review Office and Chambers Ireland

2:55 pm

Photo of John LyonsJohn Lyons (Dublin North West, Labour) | Oireachtas source

Obviously, there is a cultural move away from the traditional sources of financing with the banks. In our deliberations, we have heard from LinkedFinance, Mr. Peter O'Mahony and Mr. Marc Rafferty. We have heard some good news stories about crowdfunding and the like. Applications for such funding can be filled out in 37 seconds online. These sources seem to be doing something right but it seems to me there is not a significant take-up of them. How well aware are small and medium-sized enterprises, SMEs, of the opportunities of alternative sources of funding? It seems alternative sources of funding have taken off in other countries.

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