I propose to take Questions Nos. 600 and 608 together.
When we launched the Action Plan for Jobs in February, we stated very clearly that there was no ‘big bang’ solution to the jobs crisis, and that what was needed was a determined, step-by-step implementation of our Plan to rebuild the economy and create jobs. We are making solid progress and have already put in place a number of measures which will make a practical difference in making it easier for businesses to grow and create jobs.
The Action Plan for Jobs addresses many of the concerns of small business through specific national initiatives which will benefit small businesses across the country, including those areas of particular interest to the Deputy. In particular, two pro-jobs finance measures targeting companies of different sizes will go “live” by the end of this month, as follows: the €90m Micro Finance Loan Scheme targeting micro-enterprises and the €450m Credit Guarantee Scheme, targeting SMEs.
The Micro Finance Loan Scheme will initially facilitate €40m in additional lending to businesses employing not more than 10 people over the next five years, with provision for the scheme to be extended to provide an additional €50m of lending over a further five years at that point. Start-ups, sole traders and existing micro-enterprises will be eligible to apply for a loan under the Scheme.
The Credit Guarantee Scheme will facilitate €150m per annum in additional lending for SMEs who, because of a lack of collateral or because of the sector they operate in, face difficulties in accessing traditional bank credit.
The Agencies under my Department are also rolling out their plans of support for businesses on the North side. Enterprise Ireland is actively promoting entrepreneurship in Dublin and provides a range of enterprise programmes and other initiatives to approximately 500 companies on the North side to ensure that emerging technologies and business ideas with export potential are supported to become a commercial reality.
There are currently 1,290 Enterprise Ireland client companies in Dublin City and Fingal County, employing over 27,000 people in full-time employment and almost 5,600 people in contract or part-time jobs. In 2011, Enterprise Ireland paid out €21.5m in funding to client companies in Dublin City and €4.6m to companies in Fingal. To date in 2012, the agency has paid out almost €11m to companies in the areas covered by Dublin City and Fingal.
In February this year, Enterprise Ireland launched a new Community Enterprise Centre (CEC) Programme for the maintenance or establishment of a strong business development function in Community Enterprise Centres funded by the agency. Since the foundation of the first CEC Programme in 1989, Enterprise Ireland has paid out more than €2.4m in funding to six Community Enterprise Centres on the North side of Dublin, two of which are based in Coolock and Darndale.
'New Frontiers’ , Ireland’s largest entrepreneur development programme, was also launched in February 2012. New Frontiers is funded and coordinated by Enterprise Ireland and provides €4.25m in funding to enable the Institutes of Technology to deliver the programme at a local level. The core element of New Frontiers is a six-month intensive programme which will focus on developing the person’s entrepreneurial abilities, equipping them with the skills they need to run, and crucially develop, sustainable businesses. On Dublin’s North side, DCU is involved in delivering the programme, in conjunction with Dundalk Institute of Technology.
On 7th July 2012, I announced the establishment by Enterprise Ireland of a €250,000 Competitive Feasibility Fund. The Fund is open for applications until 4th September 2012, and is part of a drive to boost the number of innovative, export-oriented businesses being set-up and led by female entrepreneurs.
Dublin City Enterprise Board and Fingal County Enterprise Board support enterprise development and job creation throughout the North side of Dublin, through the provision of both direct and indirect assistance for small business. Hundreds of companies will benefit from start-up grants, mentoring and management development training.
IDA Ireland, in accordance with its strategy of securing high-quality foreign direct investment (FDI) for Ireland, continues to promote Dublin and its surrounding areas as a Metro Region, that is, a region with a population in excess of one million inhabitants that has a critical mass in terms of skills, infrastructure, companies, business services etc. This strategy has been very successful as Dublin is recognised as one of Europe’s leading business locations and is home to many of the world’s leading companies such as Google, eBay, PayPal, Pfizer, and IBM, amongst others. There are 492 IDA Ireland client companies in Dublin employing almost 52,000 people in permanent full time employment and more than 5,075 people in other positions.
