According to research undertaken by Close Brothers 78% of SMEs surveyed said that they would be seeking funding in the coming 12 months.
With the Irish economy expanding, growth for innovative companies is a priority. The Close Brothers Business Barometer, which asks 900 SMEs across the UK and Ireland about their businesses, found that the economic outlook in Ireland was more positive than counterparts in the United Kingdom, with 60% of Irish firms expecting expansion in the next year, compared to 40% in the UK.
Having a flexible financial partner is key when accessing capital or purchasing assets intended for growth. Businesses are looking for tailored solutions to invest strategically, whether to upskill a workforce, invest in new technologies or expand production.
Gavin Smith, Head of Sales at Close Brothers Commercial Finance says the growth is driving investment across a wide range of industries.
“Despite challenges in Ireland following lenders leaving the Irish market we are thrilled to see so many SMEs looking to invest and grow their businesses in the coming 12 months.
With the domestic economy performing well and productivity rising, Irish companies have established a competitive advantage in the global market. Our team are well placed to support with bespoke solutions to meet corporate goals. Asset finance and invoice finance solutions are a useful tool to access equipment and free up capital for further growth.”