Fianna Fáil has a detailed plan to support SMEs in Kilkenny according to local Fianna Fáil TD and front bench spokesperson on small business, John McGuinness.
He says that SMEs have a vital role and provide essential employment in Kilkenny. Fianna Fáil in Government outlined clear policies to support the sector.
“In Fianna Fáil’s budget plan we have provided for investments in small firms in their earliest stages of development via Enterprise Ireland’s €175 million seed and venture capital programme and through the €500m Innovation Fund,” he said.
“We also plan to a Minister of State with responsibility for small business to ensure that the sector is well represented.”
Deputy McGuinness had responsibility for small business during his time as junior minister at the Department of Enterprise, but was demoted during a cabinet reshuffle undertaken by the Taoiseach Brian Cowen.
“The three year corporation tax exemption for start-up companies will be extended and they will be rewarded for creating jobs. Enterprise agencies will work with SMEs to improve performance, productivity and competitiveness to assist them in developing exports in new and existing markets and help with their on-line strategy. Other practical supports will include working in conjunction with other agencies, providing core R&D supports and the innovation voucher system. We will also investigate the potential for providing access to vacant or under-utilised public property properties for entrepreneurs or business start ups. Fianna Fáil also plan to overhaul bankruptcy legislation. In addition to ensure cashflow to SMEs the 15-day prompt payment rule will be extended beyond the Government departments to the wider public sector.”
He pointed out that the biggest issue for small businesses is access to credit and he said Fianna Fáil wants to ensure that this is addressed.
“Fianna Fáil oversaw a significant broadening of the financial supports to county enterprise boards to assist them to broaden the scope of their work to help local business start ups. It is important that the enterprise boards can be flexible and increase their alignment with other enterprise support agencies.”
“The practical measures to support SMEs do not necessarily cost money they just mean that Fianna Fáil enable small business owners to work more efficiently and effectively and reduce their costs,” Deputy McGuinness concluded.
