‘Low awareness’ of new credit body

NEARLY 80% of SMEs remain unaware of the Credit Review Office – the Government-initiated vehicle aimed at overseeing fair lending practices to small businesses – more than two months after it was launched and six months after it was proposed, according to new findings.

The small firms lobby group, ISME has expressed surprise and disappointment that as much as 77% of respondents to its recent credit review survey claim they haven’t heard of the new entity, which was first proposed by Finance Minister, Brian Lenihan in last December’s budget.

ISME – which claims it has tried to promote the service to member businesses, itself – has called for the Government to increase public promotion of the office and to change its actual name, as the CRO acronym could be confused with the Companies Registration Office.