Michael Ring (Mayo, Fine Gael)
Link to this: Individually | In context | Oireachtas source

254. To ask the Minister for Agriculture, Food and the Marine the funding available from his Department to assist in the expansion of a business (details supplied). [45441/15]

Simon Coveney (Cork South Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

There are over 80 different Government supports for Irish start-ups and small businesses. www.supportingsmes.ieis an online guide to help start-ups and small businesses navigate these supports and is part of the Government’s ‘Supporting SMEs’ campaign. This is the best place for someone to start and will include details of the Local Enterprise Office, which provides advice, information and support in starting up or growing a business.

With regard to agri-food specifically, ‘Bord Bia Vantage’ is an online resource for small food businesses. A summary of the supports and services for individuals and entrepreneurs looking to start a food business, looking for finance, developing a new product, looking for a distributor or exporting for the first time is at www.bordbiavantage.ie.

With regard to access to finance generally for the agriculture sector, the main banks have specialised agri-food funds, with significant take-up. As part of the regular contact that I maintain with them, I recently met with the CEOs of the three main banks to discuss issues relating to the agri-food sector. All three banks consider the sector to be a priority and will continue to have specialised products.

As well as the offerings from the main banks, the Strategic Banking Corporation of Ireland (SBCI) was established by the Government to deliver lower cost, long-term, innovative and accessible funding to Irish SMEs, by offering tailored flexible products, through its ‘on-lending partners’ (currently AIB & Bank of Ireland). Their ‘Agriculture Investment Loans’ are available for investment by agricultural SMEs (including farmers) involved in primary agricultural production, the processing of agricultural products or the marketing of agricultural products. Of the almost €45 million of SBCI loans approved and drawn down between March and July, one third was accessed by the agricultural sector.