Garret Ahearn (Fine Gael) | Oireachtas source

I welcome the Minister of State and congratulate him on his appointment. It is a Department that will be extremely important in the next couple of years and I am sure someone with his drive and energy will be a success in it.

I welcome the opportunity to contribute to the debate on the Bill and the expansion in supports it brings about through Microfinance Ireland. Given the vital measures it contains it is very important that the Bill progresses through the Seanad as quickly as possible to support microbusinesses. The legislation is one of many vital Bills being introduced by the new Government, which highlights the importance of having the new Government in place.

Public health is rightly the most important concern at this time. However, the pandemic has had a significant and serious impact on small businesses, in particular on microenterprises. I pay tribute to the resilience of so many businesses that have survived in towns and villages. In many cases they have successfully reinvented themselves in various ways. I am most impressed at the rapid response in my county of Tipperary, which I am sure has been mirrored throughout the country. Many businesses embraced the new world of remote working for the first time.

One concern I hear from business owners in Clonmel and in other towns in Tipperary is that the trading online voucher scheme appears to have dried up. That is a matter of great concern to businesses that are putting their shoulder to the wheel to serve their customers, keep their businesses afloat and retain staff. A large volume of business is done online in the retail sector. Some 70% of that is based outside Ireland. The trading online voucher scheme enables businesses to get online and provides access to support, mentoring and finance. I appeal to the Minister of State to examine the situation and, if possible, to rectify it.

Speed of access will be critical to assessing loans and grants. It is necessary that businesses get funding quickly and that the process should be simple and clear. Access to funding is critical to the survival of businesses. I am very hopeful that the Bill will help to allay some of the fears that exist but we will need to see more supports in the coming weeks. I hope the expected July stimulus package will address some of those concerns and I look forward to outlining issues in that regard to the Minister of State in the coming weeks.

Tipperary relies on agriculture, tourism and small businesses. The food and accommodation sector has probably been the hardest hit. We must acknowledge the value of those businesses to the economy. We must protect them and, in doing so, protect local economies, families and communities while maintaining social cohesion. The money spent in small, local businesses such as those in Tipperary is kept locally.

The Bill offers a welcome channel of finance for small businesses for anyone who wishes to avail of it. Smaller operators who do not have the resources are experiencing a significant and disproportionate impact.Microenterprises and other small businesses, many of which are family run, need support. This Bill forms part of the solution and I wish it well. I encourage everyone to apply for and draw down the funding as one of several supports for their businesses. I fully support the Bill.