A new survey shows a high demand for examinership among small and medium businesses. 832 jobs in the SME sector were saved through the process this year according to the latest quarterly Hughes-Blake SME Examinership Index published today.

It reveals an additional 1,410 jobs were saved in examinership of large companies.

The firm says that, at year end, the process was responsible for sustaining a further 449 jobs in firms that are continuing to trade under the protection of examinership, with agreed survival schemes to be confirmed for these six companies in January.

Retailers prominently featured in firms which exited examinership. The index says "sluggish consumer demand" was behind the majority.

Hughes-Blake says "The falling cost of examinership, with €7,000 now the typical cost to enter examinership for a small company, means that a wide selection of small and medium firms, including a variety of retailers, distributors and publishers, were able to successfully move through the process and return to profitability".

The data was published as new examinership legislation which aims to increase SME access to examinership is being finalised in the Houses of the Oireachtas.

Struggling firms with less than 50 employees or turnover of less than €8.8 million will soon be able to gain access to the recovery mechanism in the Circuit Court system around the country, rather than solely in the High Court in Dublin.

Neil Hughes is Managing Partner of Hughes-Blake.