Red tape ‘a bigger concern than credit’ for Irish SMEs

Government-controlled red tape is strangling businesses more so than a lack of access to credit, according to new research.

Taxation, regulatory and compliance issues are the biggest challenges small and medium sized companies face with access to credit and a lack of government support next in line, a survey carried out by software firm Big Red Cloud found.

“There is no doubt that many of Ireland’s business owners are feeling a certain degree of discontent with the lack of Government and financial supports afforded to them when trying to grow and develop their business.