V2020 Launched to Enable SMEs in Ireland Borrow Money from the Banks

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50 Independent Consultants have joined with new venture V2020 in-order to help SMEs secure much needed credit from Ireland's banking institutions. Banks in Ireland are wary of lending money to business, in light of the recent property lending debacle. With the new venture, Banks will be able to avail of specific sectoral and functional expertise when assessing SMEs viability and will thus be in a position to extend credit to SMEs who have the right business characteristics to survive the current economic storm

To tackle the credit crunch in Ireland a new business V2020 has been launched, with 50 independent Business Consultants immediately signing up to carry out the essential service for SMEs in Ireland.

Since the government recapitalized the two major banks in Ireland and ordered them to lend 10% more to SME's, the question from the banks has been, "how can we ensure that lend to business that will survive and prosper?"

The rulebooks have been thrown out the window and the standard measurements that banks would have used on a company's commercial viability no longer hold true. Many banks are setting up specialist lending teams and advisers to find ways to help their clients. However most bank staff and accountants do not have the business expertise to increase sales, reduce costs, while maintaining operational efficiency.

Many of the larger consulting firms are full to capacity and indeed their fees would probably exceed the capability of many of the medium-size companies who are indeed responsible for the majority of jobs in Ireland.

The goal of V2020 is simple - save 200,000 Jobs, by providing strategic planning and implementation to 10,000 companies in Ireland.

One of the founders of V2020, Robert Cooper, an ex-banker of 20 years experience and author of the bluffers guide to banking said "We have over 50 experienced consultants already on board with us, many of whom are also mentors with Enterprise Ireland. They see the massive benefit in using a common framework with a centralized repository of all the business tools required at a sectoral and functional level to work with these clients in a cost effective manner. This means that the consulting expertise of Ireland Inc. can now be applied in a formal and consistent manner working with clients to help them not only survive but be positioned for growth."

V2020 are close to announcing partnerships with a number of banks and accountancy practices to work with them to augment the financial experience of their personnel with operational cost reduction management expertise sales and marketing skills and industry specific expertise.

Peter Lawless, co-founder of V2020 said "People are crying out for this solution. In the US and UK they have loan mediators and Turnaround Specialists working with the banks. Given the international communities blighted view of Irish Banking, this is a solution which is long over due."

Any Business consultants who have a track record of success in the SME marketplace may apply to join at http://www.v2020.eu, however it should be noted that only consultants who can demonstrate a number of successful client engagements will be accepted.

About V2020 Consulting Limited.

V2020 was set to help SMEs survive and thrive despite the current economic climate. A core team of consultants will work with selected, distressed bank clients, and perform a due diligence Commercial Viability Assessment. Next they will create a strategic plan and a set of measurement criteria, which the company can benchmark performance against as they execute the plan. At all times the full team of independent consultants will be using the proven V2020 framework and processes. This means that there will be consistency, which will lead to greater confidence.

It all about ensuring company survival! The V2020 framework has been designed with the following key client benefits in mind:

  •     Improve owners return on equity, by optimizing process, reducing costs, increasing sales and thereby retaining jobs
  •     Uncover new ways to increase revenues, even though market conditions have deteriorated considerably
  •     Increase working capital and cash flow, by strategically reducing costs while maintaining profit generating activities
  •     Vastly improve sales capabilities and management forecasting by implementing best of breed sales processes
  •     Streamline operations creating higher productivity through better processes
  •     Allow management to focus on the core activities of the business, while areas under threat receive expert outside assistance
  •     Increase profits by reviewing your existing products and services and focusing your efforts entirely on those with the greatest return
  •     Improve credit rating and access to finance by improving cash flow and being in a position to present a strategic business plan
  •     Prevent future difficulties by identifying key performance indicators and monitoring them on a regular basis as an early warning signal to future issues.

For more information visit http://www.v2020.eu

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PETER LAWLESS
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