Dáil Éireann Debate, Thursday - 29 June 2017
59. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Jobs, Enterprise and Innovation the extent to which adequate incentives remain available to encourage the indigenous business sector with particular reference to job creation enterprises; and if she will make a statement on the matter. [30669/17]
View answer63. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Jobs, Enterprise and Innovation the extent to which support continues to remain available for small and medium sized enterprises; and if she will make a statement on the matter. [30673/17]
View answerI propose to take Questions Nos. 59 and 63 together.
My Department, through Enterprise Ireland and the Local Enterprise Offices (LEOs) provide a range of supports to help Irish companies start, grow and export.
Finance is a critical ingredient to enterprise development. My Department also ensures that companies can access the right type of funding, appropriate to their stage of development. This ranges from microfinance right through to seed and venture capital, development capital and risk-sharing credit guarantees through the banks.
Following significant analysis and stakeholder consultation, my Department is currently working on measures targeted at the needs of companies across the economy around working capital and business development.
The objective of Enterprise Ireland’s new “Global Ambition” strategy 2017-2020 is to support enterprises across the economy to grow into strong Irish international companies, developing world-leading products and services and exporting them all around the world.
These programme supports include management capability, leadership and marketing/sales skills, as well as promoting innovation and R&D. Investment in these areas is the key to developing bigger and better Irish companies that can compete globally.
In the context of Brexit, the “Brexit SME Scorecard” launched by Enterprise Ireland (EI) in March 2017, is a new interactive online platform which can be used by Irish companies to self-assess their exposure to Brexit. In addition, Enterprise Ireland’s #PrepareforBrexit communications campaign includes a “Be Prepared Grant” that supports the costs of EI’s SME clients in preparing a plan to mitigate risks and optimise opportunities.
The Local Enterprise Offices are the “first stop shop” for advice and guidance on starting or growing a business. As well as providing training, mentoring and financial support in some instances, the LEOs can refer business clients to other sources of support.
Finally, our 8 Regional Action Plans for Jobs are building on the jobs potential of each region. The Plans bring together the public and private sector interests in each region to deliver upon a suite of actions in support of enterprise.
To further support this work, my Department launched a new Regional Enterprise Development Fund in May to support collaborative approaches to grow and sustain indigenous enterprise and jobs across the regions. Funding of up to €60m will be available over a period of four years to 2020.
The Fund will support significant collaborative regional initiatives to build on specific industry sectoral strengths and improve enterprise capability, thereby driving job creation. Competitive Feasibility funding to support the development of high quality regional projects is also available as part of this initiative.
