Extension of business schemes 'to benefit the indigenous technology sector'

The Irish Software Association (ISA), today welcomed the announcement that the Business Expansion Scheme (BES) and Seed Capital Scheme (SCS) will be continued for another seven years to 2013.

The Irish Software Association (ISA), today welcomed the announcement that the Business Expansion Scheme (BES) and Seed Capital Scheme (SCS) will be continued for another seven years to 2013.

Director of the ISA Michèle Quinn said: “The ISA sought and secured an extension of both schemes to 2013 and an increase in the investment limits. The increase in the investment limits per company up to €2m and an increase in personal investment limits from €31,750 to €150,000 per annum for the BES and €100,000 for the SCS are welcomed”.

“Access to funding between the business idea stage and the later stages of growth and export is the largest hurdle for start-up companies. The ISA believes that this decision will encourage a greater level of investment in small high-risk innovative companies”.

The ISA also recommended improvements to the existing R&D tax credit scheme to encourage more research and innovation, through the extension of the base period.

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