Edward Timmins (Wicklow, Fine Gael)

I thank the Minister of State. That covers a lot of what I was looking for. These businesses include retail, restaurants, pubs, small family businesses and the self-employed. In my experience, many of them have a poor understanding of profit and loss. They do not understand the basics of gross profit and fixed overheads. If they understood them, they would know their break-even sales figure. This is fundamental to understanding viability. If they understand this, they can know using a weekly turnover figure how well they are doing. This means they can take corrective action before it is too late. Unfortunately, many only know they are not doing well when they see they cannot pay their VAT bill or their suppliers. Even then, they do not understand what the problem is.

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