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Small firms gets help with Business Plan

Tuesday, September 04 16:18:05

Minister of State for Small Business, John Perry, today launched The Business Plan Guidance, a joint initiative by the Irish Banking Federation (IBF) and the country's four accountancy institutes to help small firms target credit.

The accountancy sector is represented by the Consultative Committee of Accountancy Bodies-Ireland (CCAB-I) and the launch took place today at an event in The Conrad Hotel, Dublin.

The Business Plan Guidance is designed to assist SMEs and microenterprises in developing and presenting a robust business plan and cash flow forecast as a key part of an application for credit. Speaking at the event, the President of the Irish Banking Federation (IBF), John Reynolds said, "I am very pleased that the banking and accountancy sectors have worked so productively together in order to develop the Business Plan Guidance. The unique role which SME's play in the Irish economy is unquestioned and they deserve the maximum support possible from the banking sector - and I want to restate our commitment to maximise the supply of credit to viable businesses with a sustainable future. We believe that the Business Plan Guidance will prove to be a valuable aid to SMEs and microenterprises."

CCAB-I Chairman, Austin Slattery said, "We feel the Business Plan Guidance will play a tremendously important role in working towards improving the economic conditions for SME's in Ireland. Availability of credit and access to capital are crucial to the survival and development of business, by collaborating with the leading banks we have taken a positive step to increase a better understanding between all parties involved in this process -we have agreed a common language and framework which is central to the understanding of a business plan. As accountants we help businesses to plan their futures in developing strategies, we believe this is an important tool that will turn good ideas into concrete proposals and in doing so get credit flowing in our economy again."

The four accountancy institutes represented by the Consultative Committee of Accountancy Bodies-Ireland (CCAB-I) include the Institute of Chartered Accountants in Ireland, the Association of Chartered Certified Accountants, the Chartered Institute of Management Accountants and the Institute of Certified Public Accountants in Ireland.