Oireachtas Joint and Select Committees
Tuesday, 9 June 2020
Special Committee on Covid-19 Response
Reopening the Economy: Supports for Business
Mr. Neil McDonnell:
Scale Ireland well addresses the needs of the venture capital and start-up community, which we also assist. Scale Ireland has a great message. The Danes and Germans have specific supports dedicated to that start-up community. I am aware that in the round it is not the sort of thing that interests a lot of people but these businesses are essential to maintaining a good economy. Consider also what the Danes and Germans are doing around their domestic businesses. The Danes are allowing businesses to recover up to 80% of lost costs. This would be for businesses such as entertainment events, concerts, football matches and so on. The Germans have announced €50 billion in grant supports for small businesses. Proportionally, this would be €3 billion in Ireland.
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