Credit still ‘key’ for SME survival

Irish SMEs are growing strongly in terms of sales but, worryingly, only a third have reported an increase in profitability as a result.

The survey carried out by Bibby Financial Services Ireland found that out of 350 SME owners, 37% reported stronger trading conditions in the first quarter of 2014, compared with the previous quarter.

Nearly half of the companies who had seen their business improve were focused on the export market with only 35% of those who had seen an increase in the first quarter of the year concentrating solely on the domestic market.