I do not believe an examination of introducing a system of controls on the start up of new businesses is justified. A general licensing system of this type would not be conducive to the promotion of new enterprises and the generation of new employment opportunities in Ireland.
The recent EU summit in Lisbon identified a number of practical measures aimed at promoting small companies as the main engine of job creation. The EU Commission SLIM initiative launched in May 1996 is simplifying internal market legislation with the aim of enabling business, including start up companies, to operate more efficiently and more effectively.
There are specific and precise legislative requirements, for example, health, safety and financial capacity, which must be complied with if a person wishes to carry on business in specified sectors of activity. For example, in the insurance sector, new companies wishing to transact either non-life insurance or life assurance business must have an authorisation from myself. Companies wishing to avail of limited liability under the Companies Acts must comply with a number of statutory obligations.
On the question of consumer protection, there is an extensive and wide-ranging body of legislation applying to both goods and services.
All legislative requirements are evaluated on an ongoing basis to ensure they continue to be relevant.
