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August 28th, 2013 @ 08:58

Budget 2014 Must Focus on New and Existing SMEs Improvements to EIIS and SCS Will Support This

Chambers Ireland has today called on the Government to use Budget 2014 to support new and existing small businesses. Rather than just looking to introduce new measures, the Government needs to take a look at initiatives already in place and examine how they can be of more benefit to business. The Employment and Investment Incentive Scheme (EIIS) and the Seed Capital Scheme (SCS) are two examples.

Chambers Ireland made a number of recommendations as to how the Government can support SMEs and entrepreneurs in our Pre Budget 2014 Submission.

Speaking this morning, Seán Murphy, Chambers Ireland Deputy Chief Executive said, “The EIIS and the SCS are two programmes which possess huge potential but are currently underused. Both of these schemes are currently under-profiled amongst businesses. Funding availability for EIIS has consistently fallen since a peak in 2007 due to the restrictions that are currently in place.”

“Budget 2014 needs to focus on SMEs and entrepreneurs, and as such these existing schemes should be modified to raise awareness and encourage participation. Schemes such as these, along with other measures suggested in our Pre Budget submission, have the potential to really help SMEs by providing additional working capital that is very much needed at this time,” he concluded.

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