Fiona O'Loughlin (Fianna Fail) | Oireachtas source

I want to thank the Cathaoirleach for selecting this issue, and the Minister of State at the Department of Enterprise, Trade and Employment, Neale Richmond, for coming along here today. I want to discuss an issue of utmost importance, and that is the economy of south Kildare. I totally understand that within the Minister of State's brief, the economy of every county and constituency in Ireland is very important to him but he will forgive me for being parochial on what I am going to talk about. As we all know, a thriving economy is the backbone of any community, in terms of employment and investment in shops, employment and people having the opportunity to shop locally in their own town and community. It is essential that we all work together to foster growth and prosperity within our communities.

Kildare South holds tremendous potential for economic development. It is a very strategic location that has well-connected transport links and a very skilled workforce. In order to harness all of those advantages it is important that we prioritise key areas in building a robust and sustainable economy. It is important that we look at foreign direct investment, FDI, and how we can attract businesses. For example, we have 39 IDA Ireland companies employing 12,174 people in Kildare, and employment among IDA Ireland clients has improved and increased by around 30% in the past five years, which is very significant. Some 9,270 people were employed in Enterprise Ireland-supported companies in 2022. However, I will speak in the main about the small and medium-sized businesses. It is vital that we support and nurture our existing businesses, small, medium and large. Local enterprises are the very lifeblood of our economy in providing jobs and services to our community. At the moment, the SME sector represents about 86% of ratepayers in Kildare. Some people think of Kildare as the place that has the very large IDA companies but the fact that 86% of our rates come from the SME sector is very important.

With my colleague, the Minister for Finance, Deputy Michael McGrath, I recently hosted a pre-budget breakfast for local business people from around Kildare. They were rightly impressed by the Minister's depth of knowledge and clear grasp of all the issues within his portfolio. However, there are many more day-to-day concerns that fall under the Minister of State's remit and that of the Department of Enterprise Trade and Employment. A recent survey showed that almost one third of business owners in Kildare noted recruitment and retention as their number one challenge and concern while one in six noted the cost of energy and raw materials. Rising interest rates and access to capital are other issues of concern. I thank Kildare Chamber of Commerce for sharing these figures with me.

From speaking to local business owners, I know that they are very worried about the relative uncertainty with the economy at present, whether it is in regard to staffing, costs, the impact of inflation and interest rates or the many other daily worries and concerns business owners in South Kildare face. We are very lucky to have a well diversified economy in Kildare. I know only too well the entrepreneurship skills that exist. It is vital the Department protects our local businesses.

I am asking the Minister of State what his Department can do to help support our local businesses with the concerns we have in the uncertain world in which we live.