SFA Annual Lunch 2018 - Comprehensive tax policy needed for small firms

Friday, 16 November 2018

  • 400 members of the small business community celebrate Irish entrepreneurship at the SFA Annual Lunch
  • Attracting talent, Brexit and domestic economic stagnation biggest risk factors for small firms in 2019
  • SFA Chair calls for real tax reform as part of national Small Business Strategy

In advance of the Small Firms Association Annual Lunch today, sponsored by Bank of Ireland, SFA Chair, Sue O’Neill stated: “Our latest small business survey found that compared to this time last year, there is a softening of confidence amongst our members. In the last few weeks, 59% of SFA members surveyed told us that they feel the business environment is improving compared to 62% in November 2017. The number that feels it is disimproving has jumped from 8% to 12%, over the same period.

“Our members ranked difficulties with attracting talent, Brexit and domestic economic stagnation as the biggest risk factors for their business in the coming year. These risks are very real for small firms, as we face increasing staff turnover and wage pressures. Brexit uncertainty will also continue as we struggle towards an agreement and Britain formally leaves the EU in March of next year.”

On the SFA campaign for a national Small Business Strategy for Ireland, Sue O’Neill commented: “A supportive policy will help us to expand our businesses here in Ireland and beyond. It will promote innovation and help us to attract and retain staff. It will increase the number of business transactions, making for a more dynamic and attractive environment which will attract investment and help small businesses to raise finance and reach their full potential.

“One of the most important pillars of a national Small Business Strategy is a comprehensive tax policy. As a country we need to urgently implement real reform within our tax system to ensure sustainable competitiveness for small business and finally end tax discrimination against the self-employed and entrepreneurs.”