Small and medium sized companies are the wellspring of employment and innovation in the economy. The business expansion scheme has helped companies to gain access to capital investments. But given that job creation and protection is the top priority, it is essential that schemes like the BES and the three-year corporation tax exemption for start-up companies are targeted and evaluated against jobs created or retained. Accordingly, the BES is to be revamped and renamed as the employment and investment incentive. This incentive will come into operation once the necessary approval from the European Commission has been received. In the meantime, the existing scheme will continue to operate.

See this item in context