There has been debate over the level of SME debt in Ireland. In most cases suggestions have been over the fact that SME debt is dangerously high and could lead to wide scale business loan defaults.
The fact is that the SME sector is and always has been the sector with the most debt as it is the one sector that needs most financial assistance.
Many institutions are providing small business loans to the SME sector at affordable rates while there is now considerable regulations surrounding the business lending.
For those SME's who have high rates of unsustainable debts, they can now take advantage of the new bankruptcy regime to get back into business after one year.
Check out this guide on how to declare bankruptcy in Ireland. It is useful and can help you file for bankruptcy.
Overall the SME sector is going to continue having large scale debts. It is important that businesses keep one eye on their debts at all time in order to prevent insolvency.
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