Damien English (Meath West, Fine Gael) | Oireachtas source

Although I am conscious we are short of time, Mr. Calleja Crespo might address two further issues, either now or at a later stage. When one talks of entrepreneurs, a major point to come through all the committee's meetings concerns the appetite for risk. I am conscious it is probably the same across Europe and while the aim is to encourage a lot more youth entrepreneurship, even in the case of existing entrepreneurs one is not simply risking oneself as one is also risking one's family. During the recession, many business people across Europe who lost their business felt the state let them down and there was no safety net in place to protect them. While one will not go hungry, the protection is not good enough for someone who takes the risk, pays taxes, employs people and so on. Such people felt let down and a considerable amount of damage has been done in this regard. I got the sense there is work to be done to repair that image and not just in Ireland. If one has a business, one is taking a risk and the State should protect one if it goes wrong for reasons that were not one's own doing, that is, if one acted honestly, as Mr. Calleja Crespo himself noted. This issue must be addressed because it is one's family and not just oneself who one puts at risk. For example, it is quite common for banks to seek a personal guarantee, which often involves the family home and the family finances. I believe this is where the problem lies and this must also be addressed. In the same vein, I refer to the cost of credit. Business finance has become more expensive in recent years. I assume it is the same across Europe and this issue must be addressed because we will be unable to compete on an international stage unless the cost of credit is brought down.