Financial Assistance for SMEs

Has your debt been part of a loan portfolio sale? Advice from the Credit Review Office

John Trethowan, Head of the Credit Review Office, provides information for borrowers whose loan has been sold on to another lender. He maps out what may have happened so far if you are being asked to repay the loan and some actions to consider... .. Read more

Code of Conduct for Business Lending to SMEs

The Financial Regulator has published a new Code of Conduct for Business Lending to SME's. This Code applies to all business lending by regulated entities, excluding credit unions, to small and medium enterprises (SMEs). The Code’s objectives are .. Read more

EU Guide on SME Supports

The European Union provides support to European small and medium-sized enterprises (SMEs). This is available in different forms such as grants, loans and, in some cases, guarantees. Support is available either directly or through programmes managed at national or regional level, such as the European Union’s Structural Funds. SMEs can also benefit from a series of non-financial assistance measures in the form of programmes and business support services. The EU have provided a guide that outlines the .. Read more

Examinership ‘Lite’ – A positive option for insolvent SME Companies

The new Examinership legislation, sometimes referred to as Examinership ‘Lite’ to reflect its lower associated costs and its SME focus, was signed into law on 24th December 2013, under the title of the ‘Companies (Miscellaneous Provisions) Act, 2013’. It is hoped that Examinership ‘Lite’ will provide an SME-friendly Examinership regime, which will operate with the assistance of the Circuit Court, as opposed to the High Court, which has been the primary forum for Examinerships to date. Under the right conditions Examinership is a highly effective corporate restructuring tool, but to date SME Companies have struggled to avail of the process, possibly because of the onerous initial High Court legal costs. The welcome arrival of SME friendly Examinership legislation is a ‘game changer’ in that regard. Prior to this most recent Act being signed into law, there was no option for a company to apply directly to the .. Read more

Financial Supports for Irish Businesses

As part of the Action plan for Jobs 2012 , The Department of Jobs, Enterprise and Innovation have prepared a guide outlining a number of financial supports for business, including .. Read more

Services & Entitlements for Self-Employed

The Citizens Information Board has developed a dedicated site which provides information on the services and entitlements available to self-employed people who’s income is reduced. The CIB has dealt with over 800,000 callers and over a million queries in their services in 2011 and have seen a substantial increase in the number of self-employed people using their services. Many would have never accessed social welfare supports previously but with fall-offs in their business and income over recent years are finding it difficult to make ends meet. The position of self employed people in the current climate of reduced work opportunities and the particular issues that can arise for the self-employed people in securing means-tested welfare supports as well as the absence .. Read more