RACHAEL McDAID started her legal services firm, Legalline.ie, last August, and says the usual pressures associated with setting up a business have been exacerbated by the credit crunch.

While 10 or 15 years ago a request from your bank to personally guarantee a business overdraft may have been the norm, such practices were overlooked during the credit boom. Now, however, despite a long relationship with her bank, she asserts she had to give such a guarantee.

Legalline.ie facilitates people who wish to speak to a solicitor over the phone, and costs from €29 for 10 minutes - which can be paid via debit/credit card or by adding the fee to your telephone bill. McDaid says she will have to seek investment from private investors, as in the current environment she "can't even consider the bank".