Pearse Doherty (Donegal, Sinn Fein)
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157. To ask the Minister for Enterprise, Trade and Employment when businesses that have not received the second payment of the increased cost of business scheme can expect to receive it; and if he will make a statement on the matter. [39986/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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The Increased Cost of Business Scheme (ICOB) has successfully paid out €243m to date to almost 75,000 SMEs right around the country, including over 38,000 SMEs in the retail and hospitality sector. The ICOB scheme is now closed to registrations.

Eligible businesses in the retail, hospitality and beauty sectors were granted a second payment under the Scheme. Local Authorities are continuing to make payments to businesses and all payments to remaining eligible businesses will be made over the coming weeks. A business who is still waiting should contact their Local Authority directly for an update on payment times.

Colm Burke (Cork North Central, Fine Gael)
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158. To ask the Minister for Enterprise, Trade and Employment if consideration would be given to the provision of additional financial supports for small businesses in the health and safety sector, given that, while the Strategic Banking Corporation of Ireland loans assist many businesses, the interest rates have increased, leading to a demand for alternative financial supports; and if he will make a statement on the matter. [40077/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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Government is committed to helping businesses by providing a range of targeted interventions and supports.

As well as loans provided through the Strategic Banking Corporation of Ireland, loans are available through Microfinance Ireland. Microfinance Ireland provides vital support to microenterprises by filling the lending gap in the market by lending to business that cannot obtain loans from other commercial lenders. It provides loans of €2,000 up to €50,000 to businesses that do not meet the conventional risk criteria applied by commercial lenders and applies interest rate charges for its lending which are not reflective of its credit risk.

The loan term is typically three years for working capital purposes and can be extended to five years for capital expenditures. Interest rates range from between 5.5% for clients of Local Enterprise Offices and other partners to 6.5% for direct applications. Microfinance Ireland also provides post approval mentoring services to its borrowers through the Local Enterprise Office Network.

Information on these loans and other alternative types of financial supports is available on the National Enterprise Hub (NEH) which I launched in July. This Hub provides business owners with a centralised signposting service for over 180 Government supports. It is a free service that makes it easier for entrepreneurs to access and avail of supports such as grants, funding, loans and expert advice across a range of sectors.

The NEH includes access to a team of expert advisors through a dedicated phone line, live chat and email. These advisors will help to diagnose the needs of the individual business, directing them to the appropriate available supports or indeed put them in direct contact with the relevant agency. www.neh.gov.ie

The Government is dedicated to backing businesses and will continue to work closely with SMEs by supporting their growth.

Colm Burke (Cork North Central, Fine Gael)
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159. To ask the Minister for Enterprise, Trade and Employment if consideration would be given by his Department to implement regular consultation with small local businesses to target specific challenges and needs that they face, as this would ensure the creation of relevant and effective support measures for said businesses; and if he will make a statement on the matter. [40078/24]

Emer Higgins (Dublin Mid West, Fine Gael)
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My Department consults with small businesses on a regular basis and through a variety of existing fora. I am acutely aware of the specific challenges these small businesses face and my Department and this Government have continued to introduce relevant and effective measures to support them.

I chair the SME and Entrepreneurship Taskforce, whose membership includes entrepreneurs, business leaders and other individuals uniquely positioned to contribute to a long-term vision for the SME sector.

The SME and Entrepreneurship Growth Plan, developed by that Taskforce, sets out a wide range of recommendations with long-term strategic relevance for SMEs and entrepreneurs, including measures to assist companies to start up, scale up, enhance their digital and green capabilities, and increase export activity.

There has been significant progress on implementation of the priorities, particularly given the challenging economic environment over the past number of years. The Taskforce meets quarterly and brings annual progress reports to government.

The Taskforce priorities for 2024 are as follows: Access to Finance (including funding and insurance), Digital Transformation, Increasing first time exporters & Enhanced assistance for high-potential businesses, SME Management Skills, Reducing the regulatory burden for SMEs & Cost of doing business, Delivery of the National Enterprise Hub, Ireland’s climate ambitions, and Inclusive entrepreneurship.

My Department also hosts the Enterprise Forum to discuss enterprise policy implications arising from emerging national and international challenges, with a particular focus on capturing the views, concerns, and suggestions of the enterprise sector. The Enterprise Forum meets quarterly and includes (amongst others) SME representative bodies.

In addition, there is a structured approach to consulting with retail businesses of all sizes including small businesses, through the Retail Forum. Membership of the Retail Forum includes retailers and retail representative bodies, public sector and academic bodies.

The Government is keenly aware of the impact of rising costs on the retail sector. This issue and others are brought to the attention of the Minister for Business, Employment and Retail regularly by retail representative bodies.

The Retail Forum, chaired by the Minister for Business, Employment and Retail, meets on a quarterly basis. It is a platform where key issues of relevance to the retail sector can be discussed, with a view to identifying practical actions which could be taken by government, or by industry itself, to support the sector with particular emphasis on achieving sustainable jobs growth in the sector.

Current priorities for the Retail Forum include supporting it to deal with the impacts of the rising cost of doing business, retail crime, the responsibilities imposed by EU legislation and the challenges and opportunities arising from the green and digital transitions.