Credit Demand Stable but Action Required to Support Growth

Chambers Ireland has today (03/06/14) noted the publication of the latest Red C SME Credit Demand Survey.

Speaking this morning, Chambers Ireland Chief Executive Ian Talbot said “We continue to see muted demand as businesses continue to consolidate. Improvements in the turnaround of responses suggest improved quality of applications by SMEs as well as better process management by banks. We would urge businesses unhappy with the outcome of their application to avail of the appeal processes available, particularly the Credit Review Office. Government must also critically assess the methods through which it disseminates information on their range of available supports.”

“However, what is vitally needed is a further boost in confidence. We call on the ECB to take urgent and decisive action at its monthly meeting on Thursday (5 June) to provide a stimulus to the European economy which will enhance growth prospects rather than continuing to gamble with the threat of deflation,” he concluded.