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Small firms need greater protection in liquidations and receiverships

Small firms are still being butchered by the domino effect of liquidations and receivership by virtue of the fact that they are all unsecured creditors and are all owed money.

But the law is not on their side; they are the last on the list and invariably they got nothing.

Banks circumvent their position by getting personal guarantees.

The Revenue Commissioners also circumvent their position by being preferential creditors.

Yet small business who are legitimately owed money are left with nothing under present law.

There must be change in relation to that aspect of trade creditors.

Small business is crying out for the creation of a climate conducive to proper and adequate rewards for efforts made.

If these proposals are not implemented, the small businesses we have left will be discouraged from remaining in business.

Recently a businessman said to me that the only way to make money at the moment is to get out of this country.

There is vast potential in business development and it is worth backing.

It has been proved that these small businesses and enterprises are durable and can weather the recession.

They cannot pull out of Ireland on a whim.

They are more sustainable and are invested in their communities unlike many multinationals.

The need for a national policy on small businesses is long overdue.

Cllr. Noel Collins

“St. Judes”

Midleton

Co. Cork


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