One example of a business badly affected by the continuing delay over the Western Investment Fund is the Connemara Walking and Cycling Centre in Clifden, Co Galway.
Ms Patricia Dunford, who runs the company with her archaeologist husband, Mr Michael Gibbons, has been in talks with the fund manager for over a year. They based their business plans on the belief that they would get money from the fund.
Businesses generally use money from an equity fund such as this, which has to be paid back, to lever additional bank finance. The couple had already operated successful walking tours for many years and went to the WDC with their plan to build accommodation and specialist facilities for walkers and cyclists, and for larger groups.
Because of the delay with the fund, only part of the construction work has gone ahead. "We are in an impossible situation. We know we are in line to get money but they [the WDC] are not in a position to give us a date. Their hands are tied. "They are waiting every day for a phone call and we are waiting every day for a phone call.
"If we hadn't ever gone to the WDC we would probably have structured the funding differently and we could have the building finished by now," said Ms Dunford.