Small firms seek PRSI rebate to tackle rising labour costs

'Punitive taxes and burdensome regulations are putting a financial and time-consuming strain on entrepreneurs'

The SFA’s recent Small Business Survey showed that business costs remain a challenge for many small businesses with an average increase in costs at 11.7% in the past 12 months, among the businesses that have experienced increased costs. 

A rebate in PRSI payments should be announced for small businesses in the forthcoming budget to mitigate against labour-related costs.

Publishing their pre-budget submission, the Small Firms Association (SFA) said the temporary rebate, for businesses with up to 50 workers, could be based on the number of lower-earning workers on a company’s payroll, relative to the increases in weekly labour costs which will occur in 2025, 2026 and 2027.