asked the Minister for Industry and Commerce whether he has any proposals in train to assist in enabling more co-operatives to participate in industrial activity; and the ways in which he intends to assist the development of greater equity shareholding in companies.
Written Answers. - Equity Shareholding in Companies.
37.
Industrial co-operatives are eligible for the full range of incentives provided by the industrial development agencies under my aegis. As an additional measure, the Industrial Development Authority has recently appointed an officer with overall responsibility for the development and promotion of co-operatives. The officer will also work with the Co-operative Development Council which the Programme for National Recovery envisaged would be established by FÁS.
In relation to the development of greater equity shareholding, a number of initiatives are already in place to increase equity investment in industry including the business expansion scheme and the growth of venture capital activities including those of the National Development Corporation Ltd. I am anxious that the full potential of the Stock Exchange as a provider of equity capital to industry should be more fully realised and, following discussions which I have held with the Stock Exchange on this matter, I have asked the Exchange and the IDA to work together to heighten awareness of the advantages to companies of a public quotation. I have also asked the Stock Exchange to consider ways and means of reducing the varied costs, particularly to smaller companies, of obtaining a Stock Market quotation.