Dáil Éireann Debate, Tuesday - 22 January 2013
317. Deputy James Bannon asked the Minister for Jobs, Enterprise and Innovation his plans to set up a hardship fund to help small and medium businesses survive current economic difficulties; and if he will make a statement on the matter. [2534/13]
View answerGovernment actions to support the development of Irish business in the current economic climate have been set out in the Action Plan for Jobs 2012 and are targeted in a manner to address real business difficulties. The Action Plan for Jobs 2012 was particularly focused in relation to assisting the small business sector to cope with the current economic crisis and to prepare businesses for future growth and job creation. Various initiatives were introduced during 2012 such as:
- Legislation to reform statutory wage setting mechanisms;
- A reduction or freezing of charges levied on business by Government across a large range of Government Departments and Agencies;
- The enactment of the Legal Services Bill which will place downward pressure on insurance costs;
- The €90m Microenterprise Loan Fund Scheme;
- The €450m Credit Guarantee Scheme;
- The €120m second call under Innovation Fund Ireland;
- The €150m Development Capital Scheme;
- The development of a new Small and Micro Business Division within Enterprise Ireland (EI) as a centre of excellence in the provision of supports to the small and micro-enterprise sectors; and
- The establishment of Local Enterprise Offices (LEOs) to provide a “First-stop-shop” for small businesses with Local Authorities.
In December 2012, I published the Companies Bill which will result in substantial improvements to the ease of doing business in Ireland and will implement a series of major reforms to reduce red tape and make it easier and cheaper to run a company. It will save businesses across Ireland many millions of euro in reduced professional fees, compliance costs and red tape, and will ultimately make it easier to create jobs. Furthermore, small companies will be able to apply to the Circuit Court for Examinership which means that it will be cheaper and easier for businesses to restructure their debts.
The Action Plan for Jobs 2013, which will be published shortly, will continue to support SMEs by way of a whole of Government approach to taking action and implementing reform, to ensure that the business environment is conducive to business survival through the current difficulties, growing and expanding business and providing fresh job opportunities.
