Oireachtas Joint and Select Committees

Tuesday, 25 March 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Report on Access to Finance for SMEs: InterTradeIreland

2:15 pm

Photo of Anthony LawlorAnthony Lawlor (Kildare North, Fine Gael)
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We also have a problem with regard to access to the information. There should be just one portal advising people where to go and we need to develop that.

The InterTradeIreland report indicates the lack of information, particularly in Northern Ireland, as to what is going on in the SME sector from the banking perspective. Can that be addressed by us putting pressure on our counterparts in the North of Ireland in order that they can get that information somehow? If we are looking for an all-Ireland approach, InterTradeIreland only has the information from one side of the Border and is not getting it from the North.

The witnesses mentioned Horizon 2020 and identified the target in the South of €1.25 billion. Is there a target for the North of Ireland or are we again working in a vacuum up there with no one knowing anything about it?

I am delighted that the report indicates that the majority of SMEs that apply properly for finance from banks get funding. What is out there at the moment is a bit of a myth. However, the key part of that is the mentoring required to make that application correctly. Do the witnesses envisage InterTradeIreland becoming involved in encouraging more such activity? We are trying to develop it in the South through our local employment office system. Is the same process working in the North so that small and medium-sized companies can get the necessary mentoring to apply for loans successfully?