Vol. 440 No. 4
143 Mr. R. Bruton asked the Minister for Enterprise and Employment whether he has received representations seeking to permit grant aid from the county enterprise boards towards working capital needs of new businesses; and if he will extend the powers of the boards to allow them put a financial package together to assist with working capital needs.
I have received representations seeking working capital grants from the county enterprise fund. The Deputy will understand that there are difficulties about giving grants which are totally unrelated to any performance indicator such as the acquisition or construction of a particular asset or the achievement of certain stated employment targets, given the need to ensure value for money in the dispensing of Exchequer funds.
I should point out, however, that in addition to capital and feasibility study grants, boards can consider employment grants in favour of suitable promoters. Employment grants are in fact a form of working capital, related to a specific performance target of particular relevance in the context of the county enterprise fund. I would expect employment grants — which may be given even when only one job — the promoter's — is concerned—to satisfy the requirement of assistance towards working capital.
