Niamh Smyth (Cavan-Monaghan, Fianna Fail)

I thank the Deputy for his really important question. This is something we all hear about regularly in our constituency offices. The action plan on competitiveness and productivity - a commitment in the programme for Government - recently published by the Minister, Deputy Burke, is a whole-of-government strategic response to the challenges that Ireland is facing. A key focus of the action plan is improving Ireland’s regulatory environment under the theme "Regulating for Growth and Controlling Costs". Measures under this theme include introducing a red tape challenge across Government to reduce regulation for SMEs, undertaking a public consultation to identify areas of high burden and all Government Departments applying the SME test to all measures, and in particular to policy initiatives where it is proposed to increase costs on small business.

In terms of my Department, there is an ongoing commitment to ensuring the regulatory environment is proportionate and fit for purpose. This includes the conduct of regulatory impact analysis and the systematic application of the SME test, which has been designed to invite consideration of less stringent compliance requirements for smaller companies, where appropriate and proportionate. My Department has also established a small business unit which has been tasked with ensuring that the needs and issues of small businesses have a dedicated focus and are recognised and acknowledged across Government.

In terms of legislative change, the Companies Act 2014 was updated through the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024, which introduced a range of practical reforms consistent with ensuring that Ireland's regulatory framework provides flexibility and is fit for modern business operating in an increasingly digital and virtual environment. Work is ongoing to modernise and reform a range of other legislation, including the co-operative societies Bill and legislation relating to limited partnerships and business names. The foregoing complements work ongoing at EU level, where there is a particular focus on simplification. This is what this all boils down to - simplification. I know the Minister has been a huge champion of the simpler, faster and lighter approach in terms of bureaucracy for small businesses.

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