Realistic SME Debt solutions being negotiated, despite bank denials.
Non-core property lending must be separated from business debt.
Creative solutions required in SME business re-engineering.
ISME, Monday 25th August 2014.
ISME, the Irish Small & Medium Enterprises Association today (25th August) launched the nationwide SME Debt Restructuring seminars to be held in the first two weeks of September. The Association called on the Irish banks to remember that the reason for the taxpayer bailing them out was so that they in turn would be in a better position to assist vulnerable SMEs to trade profitably again.
At the launch the ISME CEO, Mark Fielding stated, “While the scale of the issues and the competing nature of the demands in terms of personal debts, personal investments and business needs have resulted in some paralysis, SMEs are negotiating solutions with their banks and coming out of the process with integrated and well thought out evaluations and plans to allow them continue to trade”.
“The purpose of the seminars is to demonstrate to business owners that despite the severe pressure on them from banks and creditors, there is a way out of the problems. The experts presenting at the ISME seminars have years of experience in dealing with SME restructuring and dealing with banks.” Attendees will be brought through the personal and business debt resolution process and shown how to prepare a strategy for dealing with the banks. There will also be an overview commentary of the prevailing bank climate and policy restructuring drivers across all lending institutions, prime debt restructuring issues, settlement criteria and a summary of current bank policy position, including an analysis of SME case studies.
The seminars are free to attend, however places are limited and booking is essential through www.isme.ie. “It is essential that SME/Business and Owner banking debt resolution outcomes are sustainable, equitable and reasonable which recognise that Irelands recovery is primarily underpinned by a recovery of the SME sector. This can only happen on foot of a clear banking communications strategy for a viable restructuring of debt for both SME business and owner. The domino effect where this does not occur, whether by accident or design, is damaging for all those affected, including family, employees and next generation, with the effects being far reaching for the fabric of Irish society”, concluded Fielding.
For Seminar Outline click here