ICAI survey says credit squeeze putting small businesses in danger

A majority of Irish businesses are experiencing serious difficulties in accessing finance from credit institutions, according to a survey of chartered accountancy firms conducted by the Institute of Chartered Accountants in Ireland (ICAI).

The ICAI survey indicated that over 97% of accounting firms' clients have experienced difficulties securing finance, with 79% of client companies saying they do not understand the criteria for decisions being applied by banks.