Fianna Fáil Press Office
Senator Mary White
10 November 2015
White welcomes proposals to support and grow SMEs
Fianna Fáil Senate Spokesperson on Enterprise Jobs and Innovation Senator Mary White has welcomed the publication of detailed policy proposals aimed at supporting small to medium sized businesses.
The Fianna Fáil policy document sets out a clear pathway to incentivise entrepreneurs to set up business, to provide direct funding to SMEs and recommendations for simplifying the regulatory framework to enable Irish companies access a greater share of public procurement tenders.
Senator White commented, “Irish SMEs make an enormous contribution to the Irish economy. They act as the engine of job creation and account for 99% of all firms currently operating in the country. SMEs have huge potential to create local and sustainable employment if given the opportunity and support to expand.
“As a business person myself I am heartened that the kernel of our policy proposals includes detailed measures to reward SMEs and low income self-employed persons who create employment,” added the Senator.
Some of the key measures in the document include;
- Extending social protection supports to the self-employed;
- Establishment of a fully licensed state enterprise bank and mechanisms to incentivise crowd funding to provide credit directly to SME’s;
- Make commercial rates work for business by revamping the current system;
- Provide progressive relief from employers’ PRSI for job creation;
- Enable SMEs access a greater share of public procurement tenders.
“Last week Ireland’s World Bank ranking for ease of doing business sank 4 places. The proposals Fianna Fáil have unveiled in this policy paper provide a pathway for getting Ireland into the top 10.
“Our detailed proposals will incentivise small business start-ups, provide direct accessible SME funding sources, promote entrepreneurism, embrace the latest technological tools and remove any disproportionate regulatory burdens.”