Venture capitalists seek start-ups

Software firms are being encouraged to take part in the Irish Software Association's (ISA) software investment forum, which gives start-ups an opportunity to showcase businesses to some of Ireland's leading venture capitalists, reports Irish Dev.

The event aims to identify and guide indigenous businesses that have the potential to thrive in the new software economy, and is jointly organised by the ISA's Growth and Scale Working Group and the Irish Venture Capital Association.

The Irish software industry employs over 10 000 people in more than 500 companies, with sales of EUR1.4 billion. More than 70% of Irish software products are exported, largely to the UK and US.

The vast majority of small companies have been forced to turn to 'bootstrapping' techniques to get around widespread restrictions in bank lending, states The Post.

Banks have reduced credit availability to SME companies, although the banking sector maintains the majority of loans are still being approved. However, a University College Cork study found 98% of firms interviewed were utilising at least one type of bootstrapping technique, which refers to substitutes for formal credit.

In the report, 54% of respondents had negotiated better terms with suppliers, while just over two in five (42%) offered discounts to customers for upfront payments.

China will run its second batch of small and SME pool bills and notes according to an announcement on ChinaBond.com.cn, reports iStockAnalyst.

China's first batch of three SME pool bills and notes were sold on the local interbank bond market, marking a new channel for SMEs to solve financing difficulties.

The SME pool bill and note issues will enter into regular operations in China, noted insiders with the National Association of Financial Market Institutional Investors, the local authority holding ratification rights for corporate bills.