John Perry (Sligo-North Leitrim, Fine Gael) | Oireachtas source

There was some very good debate and it will be very hard to respond to all of the points made. I thank the Senators who contributed. I listened very actively to them and appreciate the opportunity to discuss European SME week with them.

We are all in agreement that small business is an essential part of the economy and plays a vital role in society. The Government is clear, in that putting SMEs at the centre of our thinking on how to drive economic recovery is critical. Their ability to grow underpins the potential for jobs growth and prosperity. The development of companies must be supported in every way.

Senator White referred to microfinance and the regions. That initiative is up and running and will be effective. The high level of funding available to it will stream into business. I compliment the Credit Review Office, CRO, which has been effective in its role, given the number of jobs created thanks to it.

Senator Clune referred to social insurance and the Global Entrepreneurship Monitor, GEM. This is an important week, given the high level of engagement by semi-State bodies and private companies. Next week will focus on women in business and the trade and export culture. There are many opportunities and personal contact is important. When people make formal applications, banks are obliged to reply within 15 days. A person can appeal to the bank before taking the matter to Mr. Trethowan's office.

Senator Barrett made an effective point regarding the ICC Bank model and suggested that a part of AIB be geared towards small enterprise. That there is no competitive tendering in the transport sector needs to be examined. The Senator also alluded to the role of the local enterprise offices, LEOs. Kerry Group is an extraordinary success story and its jobs announcement today is good news. The role of LEOs will be important, as will the involvement of Forfás.

Senator Harte referred to the importance of going through the formal application process as well as the lack of competition among banks.

Senator Reilly made important points about the role of enterprise offices, the EU small business Act, town centre regeneration and the domestic economy. There is an opportunity for a more detailed response on the issues of entrepreneurship, town centre business and encouraging people into business.

Senator Mullins discussed self-employment, the plan for jobs, employment rights, the CRO, licensing laws and cutting down on the amount of red tape. Local authorities have a critical role to play. The black economy needs to be addressed.

Senator Byrne referred to debit cards. I must raise the issue. Senator Sheahan made a point about rates and valuations. All of these points must be examined. Senator Higgins discussed business property and getting loans from banks, mentioning the CRO again.

I can revert to Senator Mooney with information on the differential. That the IMF has reportedly underestimated the impact of the fiscal austerity policy must be considered in terms of how it will affect future fiscal policies. Fuel costs are also a major issue.

Senator Brennan discussed microfinance and sick pay, both of which will be considered.

Senator Keane made an important point about high-potential start-ups, businesses that are bank averse, etc. People network through the EU network offices, but we can examine this issue.

The key Government actions in terms of job creation are outlined in the Action Plan for Jobs. This is being delivered and is part of a process to make Ireland the best small country for business. This is a major challenge, but the Government and our citizens are up to it. We will recover our economic independence quickly. Many of the plan's actions are aimed at improving Ireland's overall competitiveness, reducing costs and ensuring an enterprising environment. Equally, the jobs plan for 2012 is delivering on the findings of the advisory group. We are committed to redoubling our efforts. The 2013 Action Plan for Jobs will deliver all possible supports to business and relieve as much pressure on them as is possible at this difficult time.

The unavailability of adequate credit facilities has been the most discussed problem of recent times. This problem faces the small business sector and needs to be addressed. The various initiatives taken by the Minister for Finance, Deputy Noonan, to restructure and recapitalise the banking system has been the Government's principal response in this regard.

A temporary partial loan guarantee is being drafted. A plan will also be put in place to tackle the uncertainty surrounding the timeframe concerning the enterprise boards. They are open for business and are engaging. The Bill will be published in the coming weeks. Both of these schemes will be designed to assist companies.

Some weeks ago, the Minister for Jobs, Enterprise and Innovation, Deputy Bruton, launched the micro-finance fund, which has been a successful first step. It will work in close collaboration with the LEOs.

The temporary partial loan guarantee will be closely targeted at commercially viable, well performing enterprises with solid business plans, defined markets for their products or services and sufficient collateral.

Micro and small businesses comprise a crucial part of the economy and ensuring that they expand and export is a key part of the plan for jobs. For this reason, the Government has decided to implement an ambitious reform in the delivery of services to micro and small businesses, including a new micro and small business division within Enterprise Ireland, a centre of excellence in the provision of supports for small enterprise, the dissolution of the enterprise boards and the establishment of this office.

I am sorry that we do not have more time to go through all of the issues raised, but it is difficult to cover everything. Small businesses are not just a vital part of the economy. Rather, they play a vital role in our society. Our future economic prosperity depends on a sustained, strong entrepreneurial spirit even in the face of unprecedented economic challenges. The Government working group on regulation has been examining the question of cutting down on red tape. The many initiatives under way are making a difference. Companies have opportunities. It is good to see fantastic companies are emerging daily and becoming successful. I thank the House for its time.