SFA calls for establishment of new bank

The Small Firms Association is calling for the establishment of a strategic investment bank in order to support small and medium enterprises across the country.

In the group's end of year statement, the body believes that up to 20,000 jobs could be created in 2014 if the right economic environment is provided.

The SFA says there are a number of areas that need to be addressed including increased credit availability to firms and improved access for SMEs to public procurement contracts.

"The credit issue is still a huge issue," said SFA chairman AJ Noonan.

"We're calling for the setting up of a strategic investment bank that's primarily involved in creating credit to supply businesses."