Oireachtas Joint and Select Committees
Tuesday, 30 June 2020
Special Committee on Covid-19 Response
Impact of Covid-19: SME Recovery
Michael Collins (Cork South West, Independent) | Oireachtas source
I have spoken to west Cork small businesses, representatives of which are on the phone day and night at the moment. I represent a constituency where tourism is a significant employer, as it is in other constituencies. Tourism this year has been almost wiped out and a worry hangs over next year. The greatest fear of these businesses is that there is nothing else available to them but to borrow - in effect, kicking the can down the road. Most such businesses do not want to borrow because paying back the loan would be a nightmare at this time. Emergency funding needs to be put in place for all struggling SMEs and not in the months down the road. Is there any indication that this will happen?
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