Half of business directors say access to credit still a problem

A survey of Irish business directors has signalled belief in the Fine Gael/Labour coalition to restore confidence in Ireland, but has also revealed the desire for a range of measures to support business.

A survey of Irish business directors has signalled belief in the Fine Gael/Labour coalition to restore confidence in Ireland, but has also revealed the desire for a range of measures to support business.

The research by Behaviour & Attitudes on behalf of the Institute of Directors in Ireland among its members, has found that the majority of directors surveyed have confidence in the new Government, with almost nine in 10 (88%) agreeing that the Government will create political stability and two in three (67%) confident in the Government’s ability to rebuild the economy.

Three in four (76%) directors surveyed believe the Government can restore international confidence in Ireland, with four in five (80%) directors of multinationals showing high levels of confidence in this outcome.

Just over two in five (44%) directors believe the Government will be good for small business in Ireland, with just under half (47%) of directors in SMEs positive about the impact that the Government will make.

Some 49% of all directors surveyed believe that the Fine Gael/Labour coalition will be no better or worse than the previous Government as regards small business in Ireland.

When questioned on the biggest challenges facing business in Ireland, one in two (48%) directors cited access to credit/funding and a dysfunctional banking system as the main challenge to business.

Almost one in four (23%) cited consumer confidence levels as an issue and 13% said our reputation internationally is a challenge to the business environment in Ireland.

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