Published: Wednesday, 14th October, 2009 5:00pm

'Show your Business' week with Bank of Ireland

Bank of Ireland is hosting its 'Show your Business' week throughout its 277 retail branches across the country from Monday 12 to Friday 16 October 2009. This week long event will provide SMEs, both customers and non-customers of the Bank, the opportunity to showcase their products and services in the local branch and offers them potential new business opportunities. It will also offer small businesses a platform to network with other local entrepreneurs to exchange ideas with their peers and provide support to drive one another's success.

The initiative is being held as part of the Bank's ongoing commitment to SMEs, recognising their importance in the Irish economy which includes organising events that are relevant and beneficial to small businesses. It also reinforces the Bank's 'open for business' agenda and its ongoing commitment to supporting viable small businesses.

Exhibitors will have the opportunity to bring along their own exhibition stand or take a table, set up their laptop, bring along some samples, whatever is required to make the most of their display in the local branch. There will be in excess of twenty businesses showcasing in branches in Cavan.

According to Maureen Murphy, Branch Manager, Bank of Ireland Cavan: "The concept behind 'Show your Business' week is that small businesses can display their wares at the local branch and interact with a wide audience in their local area. It also promotes the spirit of entrepreneurship amongst local communities, the birthplace of SMEs. There is a perception that we are not lending to small businesses. This is simply not true. We are actively supporting and will continue to support viable businesses.

"We acknowledge the challenging market conditions for small and micro businesses and the pressure that businesses are experiencing as a result. We have lent almost €1.5bn to SMEs, excluding property lending, in the past six months. We continue to approve four out of every five loan applications this year. In addition, the Bank has put in place a number of specialist funds to encourage economic activity in some key sectors at this time including: €250m Business Support Fund, €100m Developing Business Loan Fund and €100m Green Business Loan Fund.

"Traditionally, in a downturn we see stronger, more innovative small businesses being established. We look for viability, flexibility and a good track record in a business when assessing lending applications along with a sound business plan and the ability to repay. Our experience is that there are opportunities to be sought in the current downturn. Businesses should be innovative in how they deliver their products and services to their customer", she said.