Lack of bank credit hampering recovery, experts claim

Three-quarters of accountants surveyed said the country was emerging from the longest decline in living memory.

Three-quarters of accountants surveyed said the country was emerging from the longest decline in living memory.

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Lack of bank credit could hamper economic recovery in Northern Ireland, chartered accountants have claimed.

Businesses have put viable expansion plans on hold due to difficulties accessing funds, financial experts said. The main reasons were banks’ unwillingness to lend, a lack of alternatives, difficulties providing sufficient security against loans and the property debt which companies were servicing.

However, three-quarters of accountants surveyed said the country was emerging from the longest decline in living memory.

 

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