Fianna Fáil has published extensive policy proposals aimed at supporting SMEs.

The policy document sets out a pathway to incentivise entrepreneurs to set up business. The plan also explores improvements in direct funding to SMEs and simplifying the regulatory framework to enable Irish companies access a greater share of public procurement tenders.

Deputy John McGuinness (pictured) commented: “Irish SMEs make an enormous contribution to the Irish economy. They act as the engine of job creation and account for 99% of all firms currently operating in the country. SMEs have huge potential to create local and sustainable employment if given the opportunity and support to expand. The policy document which I have unveiled today, following extensive consultation with small businesses, sets out a roadmap to achieve this."

The policy document's key measures include:

• Extending social protection supports to the self-employed
• Establishment of a fully licensed state enterprise bank and mechanisms to incentivise crowd funding to provide credit directly to SME’s
• Make commercial rates work for business by revamping the current system
• Provide progressive relief from employers’ PRSI for job creation
• Enable SMEs access a greater share of public procurement tenders.

“Just this week alone Ireland’s World Bank ranking for ease of doing business sank four places," said McGuinness. "The proposals we have unveiled in this policy paper provide a pathway for getting Ireland into the top 10."

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