Neil McDonnell: Ireland’s economy is right-sized for multinationals but expensive for small businesses

Lost jobs will not be absorbed forever

There is an inevitable closure of a business when their customer base is unwilling to absorb the costs they pass on.

ISME set up the SaveJobs platform in the first fortnight of March because of the complete detachment of the body politic from the needs of the small enterprise community. A fortnight later, our incoming Taoiseach seems to have discovered the existence of the SME sector. Perhaps someone up there is listening to us.

Starting an initiative called “SaveJobs” may seem counter-intuitive in an economy close to full employment. But that is to miss the point: Businesses are closing, and jobs are being lost; it’s just that the economy is absorbing the displaced workers quickly. This will not always be the case.