SFA pre-Budget submission 2021

Small firms are at the mercy of the COVID-19 crisis, with Government and local authorities forced to step in to save the futures of thousands of small firms and their employees through grants, loans, and job subsidies. These mechanisms have been central to the Government’s emergency business supports. Budget 2021 must help further to get Ireland’s small business community back on its feet.

This would involve committing to the introduction of a National SME Growth Plan, with a roadmap towards significant policy goals (increased productivity, digitalisation etc.). Immediate changes would support the achievement of these goals, including certainty on costs and debt forgiveness for small businesses in Budget 2021, reducing capital gains tax, increasing the self-employed tax credit and greater funding for re-skilling and upskilling.

Supporting small businesses in this way will achieve the next stage of Ireland’s response
to the COVID-19 crisis, mitigate some of Ireland’s economic vulnerabilities and create
a true entrepreneurial culture with benefits for entrepreneurs, employees and communities.

Small Firms Association priorities for Budget 2021:
  • Protect the business environment for small firms and entrepreneurs
  • Prepare for a ‘no-trade deal’ Brexit
  • Sustain investment and entrepreneurship through the tax system
  • Support employment and upskilling in small firms
  • Incentivise small firms to transition to a low-carbon economy

The full submission is available below.