Small businesses need support

WHILE the justifiable weeping and gnashing of teeth goes on, together with the horror and loathing of the political master that allowed the banks, the planners and the unions run riot, it is necessary that the economical factors that will define the future of this country, be invoked and brought more into play.

The smart economy will find its bankers, the multinationals, have had world banks begging for their business, but what about the indigenous Irish and local business/industry. How can they develop and grow?

I am someone who started a small business 36 years ago, and is still going today with over 50 employees and exports that account for 60% of sales. The good of the business has always been paramount; there are no dividends, and no Mercs/BMW’s outside the door.

The Bank of Ireland started us, watched us and were very careful and prudent with us over the years. Then the lack of regulation, led by a hail-fellow, well-met Taoiseach let the bank prudence go, with the result that Anglo led the cannibalism of greed. Now there is no money for business.

A recent application of ours to buy additional machinery which would create jobs would only be given if we put up €100,000 plus three personal guarantees and pay 7.5% interest. We have some terrific dedicated government agencies such as Enterprise Ireland, but without capital one cannot proceed with projects.

Every job, no matter how small, takes someone out of the States costs, restores the pride in themselves and their families. So, let’s get some of the IMF/Euro Fund into industrial growth, €40/50 million in small amounts spread around would create a lot of jobs and save more than the 6% interest.

Let’s support the entrepreneur with a liveable wage, provide him/her with the advice of a mentor/accountant and let them set up their project. If he fails, pick him up, and if he is good enough and has the ability, let them start again.

Those small businesses/factories who are hanging on in the hopes of better times ahead need the same support. Well, give it to them, because until all small businesses and ideas are brought back to life we will continue to export our young and leave the rest behind in continual misery.

William Bateman

Carrigaline

Co Cork