I just read an interesting article that I would like to share. There is a small medical company in Dublin who 10 months ago got an overdraft of € 100,000 from a well-known bank to grow its business. This same company got a letter from the said bank a week ago to let them know that their overdraft has been reduced to € 30,000. As a result, two people had to be let go and the market share of the medical company has been reduced drastically as a result. The Irish problem is an old one ‘Unemployment’ and in order to beat this problem, banks have to allow small businesses the chance of survival, not bring them down on their knees. SME’s are only trying to help our ‘unemployment’ problem by hiring new medical staff but every opportunity that is created for growth is taken away by the banks just as quickly. Medical companies may have to move away from this way of funding and start thinking of new ways of raising new capital for 2009…..

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