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Irish SME owner doesn't buy IMF forecast

Tuesday, October 09 15:48:25

At least one Irish SME owner, George Mordaunt strongly disagrees with the IMF statement today that the Irish economy will grow by 0.4pc this year and will achieve growth of 1.4pc next year while the rest of Europe sinks.

And he bases his challenge on bitter experience of actually doing business in Ireland now.

His own enterprise, The Mordaunt Group, and most of the sectors he works with at Insight (a company founded to discuss identify and develop solutions to all business difficulties) have had an intense decline in business this year in comparison to 2011 and in particular over the last 6-8 weeks.

The businessman says this has been one of the worst periods for his company and other SMEs that he deals with since the current crisis began back in 2008.

He attributes the most recent decline over the past two months to the near collapse in consumer sentiment, which he puts down to "government shenanigans", the fear factor over the looming Budget and child welfare issues.

As a businessman he finds it impossible to see Ireland showing the kind of growth the IMF are talking about in comparison to the rest of Europe.

"If there is any growth in the Irish economy, it will be reflective of the support the government gives to the internationals coming into the country as opposed to Irish SMEs," who Mr Mordaunt feels are being overlooked.

The IMF report also stated that the global economic slowdown is worsening, which Mr Mordaunt says is "unacceptable and a shame on every European leader".

He believes the government needs to take action in the budget to support SMEs before more Irish businesses have to close their doors.