SFA hails Budget 2007 as good news for small business

The Small Firms Association has broadly welcomed today’s Budget and its specific measures to support small business.

SFA chairman Pat Crotty said: “The extension of both the Business Expansion Scheme and the Seed Capital Scheme to 2013, and the increase in the individual investment ceiling to €150,000 and €100,000 respectively, will increase their attractiveness to potential investors and encourage more people to set up their own business.”

“The increase in the overall amount a business can raise through the BES scheme to €2m makes it a more realistic and viable alternative to businesses trying to raise revenue to grow their businesses.

"Over the past number of years, there has been a growing disparity between the amount of tax reliefs available for investors in property, rather than in productive enterprise, which the new limits should serve to redress”.

However, the Small Firms Association was critical of the €3m additional funding to promote energy efficiency in SMEs.