O’REILLY CALLS ON EUROPEAN AFFAIRS COMMITTEE TO ADDRESS CREDIT FLOW ISSUE FOR SMALL BUSINESS IN CAVAN AND MONAGHAN

Fine Gael TD for Cavan and Monaghan, Joe O’Reilly TD, called on the Oireachtas Joint Committee on European Affairs to address the issue of over-regulation of the Small Business Sector in Ireland.

Speaking at the Committee meeting this week with members of IBEC, ISME and the Small Firms Association present, Deputy O’Reilly discussed with them the real issues that are facing many small and medium businesses in this area.

‘There are many small and medium businesses who are finding the current economic climate a very difficult place to do business in. One of the key issues that I keep hearing from local businesses people in Cavan and Monaghan that I meet is the issue of credit flow. Accessing credit is a real problem for many small businesses and I decided to raise this issue at the Committee meeting. I told those present that I firmly believed that credit for small and medium businesses needs to be easier accessed’ explained the Deputy.

This statement gained universal support from the Committee and the visiting Representatives from IBEC, ISME and the Small Firms Association and Deputy O’Reilly then called on the Committee and those present to use their own fora to make an issue of the over-regulation of the Small Business Sector in this country.

Speaking on his hopes for the future of this sector, the Deputy said ‘I am looking forward to the new year, to see some of the plans outlined in the Department of Enterprise’s Capital Investment Budget some weeks ago. The Department has secured an increase in its capital budget; from €508million to its highest ever level of €514million in 2012. I look forward to seeing a productive discussion in matters such as the State Guarantee of Small Loans and Micro Financing for Small Businesses.

 

Senator Joe O'Reilly representing Cavan & Monaghan 2010. | An ExSite website