Jim Power: More important than ever to nurture beleaguered SMEs

As we all know, or at least should realise, foreign direct investment is an incredibly important component of Ireland’s economic model and structure.

Directly and indirectly, it accounts for around 340,000 jobs in the economy, and this employment is spread regionally around the country.

The 12.5% corporation tax rate has been instrumental to Ireland’s success in attracting such investment, but the pro-business environment (amongst those who matter) and the quality of the labour force have also contributed. However, Ireland’s economic model is now under pressure from a number of different sources.