Bibby Financial Services Ireland (BFSI) has officially opened its new Cork office. The office on Crosse’s Green in Cork city centre will be led by Stephen McCarthy, recently appointed as the firm’s head of sales for Munster.

BFSI said that the Cork office will offer bespoke financial assistance and a range of products tailored to support SMEs. The company is already working with a variety of Munster businesses, including specialist recruitment agency Hamilton French.

Bibby Financial Services Ireland’s funding portfolio includes confidential invoice, trade and export finance, foreign exchange services, bad debt protection and specialist funding for a range of sectors.

Bibby Financial Services Ireland is part of Bibby Financial Services Group, an independent financial services partner to over 10,000 businesses across 14 countries. The Irish operation was established in 2006 and has a team of 30 employees headquartered in Sandyford, Dublin.

“Cork continues to build on its reputation as a leading national and international business hub – thanks in no small part to its vibrant SME sector,” said Stephen McCarthy.

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“We’re delighted to be expanding our geographical reach to give SMEs in Cork and the wider Munster region direct access to invoice financing and a range of funding solutions that can make a real difference to their business, safeguard cashflow, and fuel further growth.”

Mark O’Rourke, managing director at BFSI, said that the firm is building out its regional teams to support Irish SMEs responding to the challenges posed by Brexit. “Many will be adversely affected by any disruption to existing supply chains or further fluctuations in the value of sterling,” she noted.

Separately, the latest SME Ireland Confidence Tracker, which is published by Bibby Financial Services Ireland, found that 63% of SMEs believe the government should do more to assist the sector, with 71% identifying the need for additional tax breaks.

The research also found that half of Irish SMEs expect to see either a slight (37%) or significant (12%) increase in sales in Q2 of 2019, despite the uncertainty regarding the outcome of Brexit. A further 38% expect their sales to remain steady.

Photo: Mark O'Rourke (left) and Stephen McCarthy