The evidence is growing that Irish firms are coming under financial pressure because of difficulties in raising creditor even, in some cases, ensuring ongoing financing of their normal operations.
The risk, heading into 2009, is that more and more companies will start to run into difficulties simply because their cashflows have dried up. According to Patricia Callan, director of the Small Firms Association (SFA), banks have dramatically scaled back their lending to small and medium-sized businesses.
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