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In Ireland, where Small to Medium Enterprises (SMEs) are crucial to economic growth, access to credit is vital. To address a lack of reliable data on SME financing, the Irish government established the SME Credit Demand Survey. This large-scale, statistically robust survey provides crucial insights into SME credit demand, business sentiment, and other relevant topics. The survey data informs evidence-based policy making and supports the growth of the Irish SME sector, ultimately contributing to overall economic growth. The survey’s impact extends beyond the public sector, informing the work of banks, business groups, researchers, and media outlets.
The key for success of the survey was to create an independent, large-scale and statistically robust survey of Small and Medium Enterprises (SMEs) to gather data on credit demand and application experiences. The survey, the largest of its kind in Ireland, used a nationally representative sample of 1,500 SMEs and employs telephone interviews to ensure data quality and minimise bias. Rigorous sampling procedures and weighting techniques were used to ensure accurate representation of SMEs across different sizes and sectors.
The survey maintained confidentiality and adhered to data protection regulations. The questionnaire was carefully designed to balance the need for comprehensive data with respondent-friendliness, and topical issues were incorporated to enhance its relevance.
This survey provides valuable data on SME experiences with accessing credit from various sources, including banks and non-bank institutions. The survey is conducted twice a year and covers a range of topics, including current issues like sustainability and energy costs. The data collected was used to inform government policy on banking regulation and credit availability, ultimately supporting economic growth and employment.
This long-running survey of Small and Medium Enterprises (SMEs) has provided a wealth of data and insights over time. This information, which covers business sentiment, credit demand, and other key SME-related topics, is used by a variety of stakeholders, including government agencies, financial institutions, researchers, and businesses themselves. The survey is considered a trusted source of information on the SME sector and plays a vital role in understanding and supporting this crucial part of the Irish economy.
