SFA Calls For 'Level Playing Field' For SMEs In Budget

By square1
SFA Calls For 'Level Playing Field' For SMEs In Budget

The Small Firms Association (SFA) has published its pre-Budget submission, in which it calls for more support for small businesses, and a platform that "puts the self-employed risk-takers back on a level playing-field with PAYE workers and rewards work.”

Commenting on the submission, SFA Chairman, AJ Noonan said, “Access to funding for small business continues to be difficult and a 30% equity investment is now demanded by the banks before they grant approvals for small business loans.

"The State has a key role to play in enabling entrepreneurs to meet that equity investment threshold, through enhancing the current Employment and Investment Incentive Scheme (EIIS), which is completely under-utilised due to lack of awareness and over complexity.  This Scheme allows people who invest in small businesses a tax right-off.”

The SFA believes that the government should reduce the lower rate of Employer PRSI from 8.5% to 4.25%, which it said is stifling job creation.

"There must be no additional stealth taxes introduced on labour. Social welfare traps must also be removed once and for all”, Noonan added.


Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.