Thursday, 31 December 2015
In an end of year statement, AJ Noonan, Chairman of the Small Firms Association (SFA), said: “Ireland has transformed itself once again into a successful and growing economy – in large part due to the entrepreneurship, perseverance and innovation of small companies. There is a strong feeling amongst the 182,000 small firms in Ireland that the business environment will continue to improve in 2016 and they plan to create 30,000 more jobs, further enrich their communities and drive economic progress.”
The SFA Chairman continued: “With a General Election on the horizon, the SFA will be calling on the new Government – whatever its composition – to embrace the SFA vision of Ireland as the most vibrant small business community in the world, supporting entrepreneurship, valuing small business and rewarding risk takers. Concrete steps must be taken in 2016 towards making this a reality.”
AJ Noonan laid out some of the concrete steps in his four point plan:
2. Build on the measures announced in Budget 2016 to bring CGT down to 20%, with a 10% rate for entrepreneurs, up to €14mn threshold similar to the UK.
3. Reform national public procurement policy to maximise the potential for local small businesses to win public contracts.
4. Promote competition in the banking sector to address the excessively high interest rates paid by small businesses in Ireland compared with the Eurozone average.
In conclusion, AJ Noonan stated: “2015 has seen a number of significant developments from a small business perspective. Growth is likely to be above 7%. Unemployment has fallen below 9%. The Government has acknowledged the discrimination that self-employed people and proprietary directors are subject to in the tax system and begun to address this by introducing a partial tax credit. The marginal tax rate has fallen below 50%. From January, consumers will have more disposable income due to reductions in USC. If the new Government puts the right policies in place, 2016 will be a great year for the small business sector. A thriving small business community has the potential to create 30,000 new jobs in 2016, reinvigorate towns and villages around the country and make a significant contribution to the Irish economy.”
For further comment or interview, contact AJ Noonan, SFA Chairman, at tel: 086 259 2610