Dáil Éireann Debate, Tuesday - 14 May 2019
247. Deputy Peter Burke asked the Minister for Business, Enterprise and Innovation her plans for the further development of the local enterprise offices into the future; and if she will make a statement on the matter. [20532/19]
Amharc ar fhreagraThe Local Enterprise Offices (LEO)s play a critical role in supporting microenterprises in the start-up and expansion phases throughout the country.
The (LEOs) are the ‘first-stop-shop’ for providing advice and guidance, financial assistance and ‘soft’ supports in the form of training and mentoring to anyone wishing to start or grow a business.
The LEOs provide a ‘signposting’ service in relation to all relevant state supports available through agencies such as Revenue, the Department of Social Protection, Education and Training Boards, Credit Review Office, Microfinance Ireland.
The LEOs can offer direct grant aid to microenterprises (10 employees or fewer) in the manufacturing and internationally traded services sector which, over time, have the potential to develop into strong exporting businesses. Subject to certain eligibility criteria, the LEOs can provide financial assistance within three main categories, i.e., Feasibility Grants (investigating the potential of a business idea) Priming Grants (to part-fund a start-up) and Business Development Grants for existing businesses that want to expand.
This year the Capital allocation I have made available to the 31 LEOs is €27.5m, an increase of €5m on last year, which is being used to fund LEO clients by way of financial assistance and a range of soft supports such as training and mentoring.
Through targeted and seamless support, including the identification of any gaps in such support, especially in emerging sectors and start-ups, the LEOs can help to ensure a more diverse enterprise base. This is done through complementary advisory and support services such as financial incentives and soft supports provided by the LEOs. Increasing the availability of long-term equity to encourage the scaling up of SMEs.
Under the Future Jobs Ireland 2019 strategy, the Government is tackling lower productivity levels in indigenous firms in order to achieve sustainable wage growth. The LEOs can play their part in this strategy by promoting indigenous entrepreneurship, especially in the regions; in encouraging clustering and stronger links between domestic and foreign owned firms; and help in assisting businesses to move up the value chain. I am currently examining the further development potential of the LEOs as set out in Future Jobs 2019. My ambition is to further strengthen and develop the capacity of the Local Enterprise Offices, in collaboration with Enterprise Ireland, to provide a comprehensive and seamless range of supports for ambitious and growth-oriented firms, so as to achieve a step-change in enterprise productivity, innovation and resilience.
