Small Business Forum welcomes Budget 2007

The Small Business Forum today welcomed Wednesday’s Budget.

The Small Business Forum today welcomed Wednesday’s Budget.

Chairperson of the Forum James O’Sullivan said: “The package of measures to assist small business contained in the Budget represents a comprehensive and fulsome response to the recommendations made by the Small Business Forum in relation to taxation.

"In some cases, the Minister for Finance has even gone further than the Forum’s proposals” he said.

Mr O’Sullivan particularly welcomed the response to the Forum’s call for a radical overhaul of the Business Expansion and the Seed Capital Schemes.

"The improvements to the schemes will make them much more attractive as a critical source of finance for the innovative, dynamic new companies that we need to encourage to sustain our recent economic performance."

Mr O’Sullivan noted that “the positive response of the Minister for Finance comes on top of the recent announcement by the Minister for Enterprise, Trade and Employment, Mr Micheál Martin that new schemes for the provision of Innovation Vouchers, Knowledge Acquisition Grants and ICT Audits would be rolled-out early in the new year.

"It is clear from the very substantial progress that has already been made on implementation of a number of the Forum’s key recommendations that the Government is serious about creating a better, more supportive environment for the small business sector.”

However, Mr O’Sullivan also noted that there remains a number of recommendations where progress to date has been more limited.

"The Forum will be continuing to press for action on all the recommendations made. In particular, the Forum will be pushing for action to address the very heavy burdens that local charges, such as commercial rates and development charges, impose on small businesses”.

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