Peter Roche (Galway East, Fine Gael)
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306. To ask the Minister for Enterprise, Trade and Employment whether the Government has considered expediting a targeted support plan for SMEs, particularly in rural and regional areas, to mitigate economic uncertainties if US foreign direct investment were to decline (details supplied); and if he will make a statement on the matter. [14222/25]

Alan Dillon (Mayo, Fine Gael)
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Client engagement and the changing global landscape informed the development of IDA’s 2025-29 strategy that was published in February 2025. In the context of heightened trade policy uncertainty, IDA’s priority is to maintain a close partnership with existing client companies at Irish site and overseas parent level while continuing to monitor developments, assess impacts and provide client / FDI insights to inform Ireland’s overall response. Under IDA’s new strategy, the agency will partner with the existing FDI base on growth and transformation to strengthen long-term investment in Ireland through productivity enhancing investments in RD&I, talent development, sustainability and digitalisation. IDA’s strategy includes targets to drive €7bn in new RD&I investment and to upskill 40,000 over the next five years as part of efforts to build innovation capacity and promote upskilling across the client portfolio.

IDA will also retain a focus on new growth opportunities across our core sectors, aligned to four key growth drivers of digitalisation and AI; semiconductors; health; and sustainability. Against a challenging external backdrop, IDA will also continue to advocate for improvements in Ireland’s relative competitiveness which Government is already addressing through NDP investments and a range of commitments in the Programme for Government, including work on an Action Plan for Competitiveness and Productivity – a factor within the country’s control.

In the years ahead, we will match our ambition for continued strong FDI performance with a focus on strengthening Irish-owned firms. The government's White Paper on Enterprise sets out that SMEs and entrepreneurship are central to our objective of diversified, sustainable growth. Ireland has long targeted programmes at indigenous firms in the manufacturing and internationally traded services sectors, with a particular focus on growing exports.

Enterprise Ireland's new Strategy for 2025-2029 sets out plans to implement a series of robust measures to support the SME sector, focusing on financial aid, innovation, sustainability 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 support tailored to the needs of SMEs, ensuring they have access to the financial resources required to sustain and grow their businesses.

Balanced regional development is a key focus of our enterprise policy. My Department and its agencies contribute to this agenda in several ways, including through nine Regional Enterprise Plans. These are bottom-up plans developed and led by regional stakeholders, which focus on collaborative initiatives to strengthen the enterprise ecosystem in each region. Since 2017 the Department of Enterprise, Trade and Employment has approved regional enterprise development funding of over €150 million through a variety of schemes and funds administered by Enterprise Ireland.

My Department will continue to work with the enterprise agencies to support SMEs as the backbone of our economy and to provide them with the resources and support they need to thrive in a challenging economic environment.