Small businesses to get €500m boost from pensions of the self-employed

SMALL businesses will gain a €500 million investment boost from self-employed business owners who plan to invest their pension funds at home.

Pension investment specialist Independent Trustee Company (ITC) said Irish investors are shunning poor-performing international equity markets in favour of local businesses. That shift will come as a welcome boost for Irish SMEs seeking expansion funds over the next 12 months.

ITC managing director Aidan McLoughlin said: “In terms of new business activity by SSASs (small self administered pension schemes), we have seen investment in private business move from being less than 5% to more than 20% of all new equity investments currently.