We must find funding solutions for vital SMEs

The strength of the economic recovery largely depends on the fortunes of the SME sector over the medium to long term.

Foreign multinationals may have created much needed employment and contributed to a current account surplus from 2009 onwards, but if the economy is to generate the 3%-plus growth needed to help pay down the national debt and create the robust employment levels to make a dent in the jobless numbers, then the domestic sector has to start moving.

The good news is that there is a huge entrepreneurial spirit in the country, with a number of start-ups and SMEs in lucrative sectors.