Aidan Davitt (Fianna Fail) | Oireachtas source

The business representative body, IBEC, said this €300 million future growth loan scheme for loans with terms of eight to ten years is a good start. It added that it will not be enough, however, considering the major concern presented by Brexit. While additional Brexit measures have been announced by the Minister, the low uptake of support schemes and loans to date indicates there is an awareness challenge. Businesses still seem to be encountering cumbersome red tape in gaining access to the various loans and schemes. It is two and a half years since the UK voted to leave the EU. With less than four months until its departure, unless there is an extension, Irish businesses remain ill prepared for the implications. Grants under Enterprise Ireland's Be Prepared grant scheme are being awarded at a rate of six per month. This means just 2% of Enterprise Ireland's approximately 5,700 client companies have availed of the scheme. Grants under InterTradeIreland's Start to Plan voucher scheme are being awarded at a rate of approximately six per month. Only 3% of the €300 million available through the Brexit loan scheme has been sanctioned to date, despite it opening last March.

I welcome the proposed scheme. It is good news. I have two questions based on the points I have made. Does the Minister still believe the red tape is onerous? It has led to a low uptake thus far. Considering the schemes at face value and in light of my extensive business background, I would have expected many of the producers and other businesses to jump at the opportunity. Could the Minister give us a flavour of the types of businesses involved? She referred briefly to agriculture and fisheries. What other types of businesses are considering the schemes? I am sure she has had inquiries. She does not have to name entities in her response. Are niche businesses involved?