Fund set to help mid-size firms

The first recipients of funding from the €75m BDO development fund are expected to draw down their cash in the near future.

The fund was established at the start of March to target mid-sized companies with a turnover of between €15m and €50m a year.

It had been recognised that while there were a lot of funding options in place for start-ups and large firms, mid-sized firms had very few alternative sources to traditional funding from banks.