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Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: That is fine.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: On the credit refusal rate and the discrepancy between what the banks are stating and what Mr. Fielding's survey suggests, would it be helpful to encourage more SME owners to submit a formal application in order to put the banks to the test? It would be easier for us to stand over what Mr. Fielding is saying versus what the banks are stating if there were more data available in this regard....

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I thank Mr. Fielding for attending. He was very frank in the views he expressed and I welcome what he had to say. His comments will definitely feed in to our overall report into access to finance for SMEs. I appreciate the fact that Mr. Fielding was both honest and blunt in his observations and I thank him for giving of his time.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I welcome Ms Sharon Higgins, head of sectors at IBEC, Mr. John O’Dea, CEO of Crospon and immediate past chairperson of the Irish Medical Devices Association, IMDA, Mr. John Chamney, director of Walsh Whiskey and founding member of the Irish Whiskey Association, Mr. Karl Flannery, CEO of Storm Technology, and Mr. Frank Gleeson, managing director at Aramark Food Services and chair of...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I thank the presenters. So as not to encroach on the time allocated for the next set of presentations, I ask that only those who are most qualified to answer questions do so. We have been hearing a lot about what the delegates said. It is good to hear the points reinforced. However, some nuances pertaining to the IT sector have not yet been made known to us so it was good to hear them today.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Yes, and the person who is most appropriate can answer the questions that Ms Higgins wishes them to field.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Did Deputy Tóibín have some other questions that were not answered?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I have a quick question for Mr. Chamney that is directly related to whiskey. I was in Taiwan approximately 18 months ago and was very surprised to see the low penetration of any Irish whiskey to Taiwan, given it is a country half the size of Ireland, but with six times the population. It has a growing middle class, but we were not on the shelves at all. Scotland was winning out there. We...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Our interpretation of the one-China policy means that at State level we do not do business directly with Taiwan, but this does not mean that companies cannot. The Government works through China by way of the one-China policy. However, I felt there was a market in Taiwan that Irish companies, particularly in the whiskey sector, should consider. Perhaps this has been considered, but I was...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I have one further question on the issue of communication. Not enough businesses know about all the schemes or which scheme would suit them. The lack of communication on schemes always seems to be a problem whether we are talking about business or anything else. The Government needs to get a one-stop shop online so that businesses can access information on all of the services they can...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Are there any final wrap-up comments before we finish?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Are there any further comments?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I thank Ms Higgins and the other witnesses. The points they have made today will not go unnoticed. I welcome the delegates from the Small Firms Association: Mr. A. J. Noonan, chairman; Ms Patricia Callan, director; and Ms Avine McNally, assistant director. They are present to discuss access to finance for SMEs. By virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I thank Mr. Noonan for his presentation. I call Senator Feargal Quinn who will be followed by Deputy Seán Kyne.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: I agree with what Ms Callan is saying in respect of peer-to-peer lending, crowd-funding and the umbrella of names that do similar things. When Linked Finance appeared before us, I am almost sure that the message I received, although I stand to be corrected, was that it was very much open for business and had a lot to give but that the amount of applications could be even better because there...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Everybody tells us that about everything - namely, that it is a communication issue. As much as I am hearing everything else that is coming in here today, when something is not working, everybody says it is not being communicated properly. I am horrified that according to the RedC research carried out for the Department of Finance, only 25%-----

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: We all seem to say this when something is not being taken up as much as it should be. We all need to play a part in making sure it is communicated better, including that kind of one-stop shop online portal for access to supports for businesses.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Money needs to be spent on advertising that. That is one of the problems.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Good point.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

John Lyons: Do our guests wish to make any closing comments?

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