Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

We can have another go at it, perhaps with a slightly different slant, because it is a good question. I propose to take Questions Nos 6, 9 and 35 together.

I assure the Deputy that the Government is committed to backing business and will continue to work closely with SMEs nationwide by supporting their growth, helping them to find new markets and stimulating job creation. I know that at present SMEs in certain sectors are facing several challenges due, in particular, to rising energy costs, inflation, a tight labour market as well as measures which are aimed at improving working conditions. While I am acutely aware of the pressures facing SMEs in Ireland, it is worth mentioning that the most recent and forthcoming changes to improve working conditions are a necessary step in ensuring that workers in Ireland can avail of the same conditions as those in many of our trading partners.

Furthermore, it is important to recognise the range of supports the Government has made available to small businesses in recent years to deal with shocks such as Brexit, Covid-19, supply change disruption and the rising energy costs associated with the war in Ukraine. I welcome the recent announcement by the Minister for Finance to make significant changes to the tax debt warehousing scheme with a reduction in the interest rate applying to warehoused tax debt to 0%.

As already stated, my Department secured more than €257 million for the increased cost of business grant, which will provide targeted refunds to some 143,000 businesses operating from rateable premises, or 95% of all commercially trading businesses nationwide. The ICOB grant will be targeted at small and medium businesses operating directly within premises that are commercially rateable by a local authority.

The Deputy will be aware that my Department and its agencies support SMEs through a number of initiatives. These include providing access to advice, training, mentoring and direct financial grants as well as working to ensure an adequate supply of credit to SMEs through State-backed loan schemes and equity investment schemes.

Enterprise Ireland supports Irish SMEs in the development of global markets through a comprehensive range of supports. The support offered by Enterprise Ireland varies from direct financial assistance through grants, loans and equity investments. Enterprise Ireland also provides market research and export development assistance, as well as funding and mentoring for innovation and research.

The Deputy will also be aware of the ongoing excellent advice and support offered by the local enterprise offices as the first-stop shop for anyone looking for general business advice, including on financial management and business planning.

I chair the SME and entrepreneurship task force along with my colleagues the Ministers of State, Deputies Calleary and Richmond. In recent years their work and efforts have strongly contributed to developments such as the launch of a range of new instruments to improve access to finance and digitalisation and reducing regulatory burden on small businesses through the roll-out of the SME test. In other words, this is a constantly changing marketplace that the Government needs to respond to but we have huge engagement with industry, employers and trade unions. We are constantly adapting policy and putting new financial packages in place to support the businesses that need it and we will continue to do it.

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