Oireachtas Joint and Select Committees

Tuesday, 13 November 2018

Seanad Public Consultation Committee

Small and Medium-Sized Enterprises: Discussion

2:30 pm

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

First, I thank Senator Ó Céidigh for this welcome initiative. I come from the ranks of the self-employed. I set up my accountancy practice when I was 28 years old. People said I was mad but I did it for 12 years. I am relatively rare as one of the self-employed who went into politics. I have a background in politics, but the risks are enormous. I was that soldier. When I started out I heard Albert Reynolds tell a great story about pressure. There is huge pressure with Brexit now but he was speaking in the context of the Northern Ireland talks. He said pressure is going out on a Friday night and calling to six or seven dance halls knowing that if one does not lodge IR£10,000 on Monday morning one is out of business. That is pressure. Will the witnesses give their views on credit from the banks? Cash is king. In particular, what is ISME's view of the small business sector's interactions with the banks?

This meeting is very worthwhile and we should have more of them. I was unable to be here earlier due to commitments at constituency level. I was interested in Mr. McDonnell's view on broadband. Perhaps he would expand on that and on whether that train has left the station. When Eircom was sold it was a little like buying a house when the value of the house was the copper in the roof rather than the house.

The value of Eircom, now Eir, was in broadband and the possibility of a broadband network. Eir and many other operators have already invested significant sums in fibre broadband. I am interested in the witnesses' thoughts in that regard.

The Small Firms Association spoke of a national small business strategy. I do not know if Enterprise Ireland or the local enterprise offices are represented today. Enterprise Ireland represents indigenous firms, many of which are small and medium sized enterprises that enter the export market. IDA Ireland look after multinational and foreign companies locating here. Typically, the local enterprise offices deal with firms which employ ten people or fewer. Who caters for domestic businesses that have been operating for three years and are now expanding? This cohort of firms has always felt it was being let down. I would like to these SMEs to be helped to get into the export market.

There are rumours that a deal has been done on the wording of the backstop.

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