Alan Dillon (Mayo, Fine Gael)
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I propose to take Questions Nos. 36 and 44 together.

The SME sector in Ireland is one of the most productive job creators in our society and they are also one of the most vital sectors to the success of the Irish economy. The Programme of Government is committed to bring forward measures to support SMEs including:

• develop an all-island innovation and entrepreneurial ecosystem
• support efforts to help domestic Irish businesses scale up, enabling more Irish companies to grow internationally while retaining a substantial workforce in Ireland and abroad
• support Irish SMEs to access the supply chains of large Multi-National Companies that are based in Ireland.

We will also consider; the development of a national start-up hub for entrepreneurs to engage with all government departments and agencies, fast-track the start-up process, and collaborate with fellow entrepreneurs, and, the development of a new fund structure to de-risk investment in start-ups and scale-ups. We are exploring options to further incentivise venture capitalists to invest in local companies.

Last year, my colleague, Minister Peter Burke, launched the National Enterprise Hub. The NEH now includes information on over 250 government supports from over 29 different departments and state agencies. I encourage small business owners to avail of this resource, which has been designed as an entry point to aid and advise them in finding relevant supports and help for their business. We will continue to support ongoing enhancements of the NEH to ensure seamless access to State supports for small businesses.

I would also advise all small businesses to contact their Local Enterprise Office (LEO). The LEOs, located within the 31 Local Authorities, are the first stop shop for local businesses in Ireland. We are going to ensure that they are resourced to help local businesses.

The LEOs can provide business advice, training and mentoring, productivity supports, and direct grant assistance to small businesses. Consultancy and productivity grants are available to small businesses in all sectors, in the areas of Green, Digital, and Lean.

LEOs also provide a wide range of high-quality business and management development programmes which are tailored to meet specific business requirements, such as the Start Your Own Business (SYOB) programme of the Mentor Programme.

Enterprise Ireland also plans to implement a series of robust measures to support the SME sector, focusing on financial aid, innovation, and digital transformation. One of the key initiatives includes an increase in funding for the Seed and Venture Capital Scheme. This increase in funding aims to provide start-ups with the necessary capital to scale their operations, enter new markets, and drive technological advancements.

Additionally, Enterprise Ireland will continue to offer grants and loans tailored to the needs of SMEs, ensuring they have access to the financial resources required to sustain and grow their businesses.

Turning to the cost of business and the regulatory burden on SMEs, we will be rigorously implementing the SME test to scrutinise every new piece of legislation and regulation for its impact on SMEs. This is a cross-Government initiative designed to ease the regulatory burden on SMEs and to embed the “Think Small First Principle” with policy makers across Government.

In addition, officials from my Department, and the Department of the Taoiseach, have recently engaged in a series of bilateral meetings with business representative groups to gather their feedback on the most problematic areas of administrative and regulatory burdens currently faced by their members. This is helping to inform the approach to the commitments in the Programme for Government around reducing unnecessary red tape.

I will continue to emphasise the importance of supporting SMEs as the backbone of the local economy, highlighting that these initiatives are designed to provide SMEs with the resources and support they need to thrive in a challenging economic environment.