Irish SMEs are ‘over reliant’ on international finance - Irish Venture Capital Association

The body said Ireland had become hooked on ‘critical but transitory’ scaling finance from global backers

Firms ‘hitting a brick wall’ at a critical time in their growth due to the lack of local finance, according to Denise Sidhu, chairperson of the IVCA. Picture: Fennell Photography

Investment into Irish small and medium businesses fell by 16 per cent to €204 million in the final quarter of last year, compared to the same period in 2022, according to new figures.

The Irish Venture Capital Association (IVCA) and William Fry found that €1.35 billion was invested in Irish SMEs in the whole of 2023, representing a 2 per cent increase on the previous year.

Denise Sidhu, chairperson of the IVCA, said: “The first ...