Fine Gael TD Frank Feighan has highlighted the range of Government schemes available to small businesses to help grow and create jobs. Deputy Feighan is encouraging businesses across Roscommon and Leitrim to take a close look at the range of supports available to see whether they could benefit.
“Starting up and growing your own business can be an all-consuming process and sometimes businesses are not aware of the range of supports available to help them to navigate the process successfully. Whether you are working hard to keep your business afloat, trying to start a new enterprise or attempting to enter new markets, there should be a support scheme from which you can benefit,” said Deputy Feighan.
“For example, if you are starting your own business, under the Seed Capital Scheme you can claim back up to €100,000 in income tax paid and invest it into a company subscribed as shares. Certain start-ups can also avail of a three year exemption from corporation tax, while the Back to Work Enterprise Allowance allows social welfare payments to be retained if an unemployed person starts up their own business.
“For those looking to expand their business, a number of incentives and tax relief schemes are available to make investment easier. The Employment Investment and Incentive Scheme provides tax relief for investment in certain corporate trades, the R&D tax credit allows companies to offset some of their corporate tax liability and €5,000 innovation vouchers are available to help you explore a business opportunity.
“Unemployment is the single biggest challenge facing the Government; for this reason we have introduced a range of measures to make it easier and more attractive for employers to take on more workers. These include the Revenue Job Assist, which encourages employers to give jobs to those on the live register and the Employer Job (PRSI) Incentive Scheme, under which employers can take on someone who has been unemployed for 6 months and pay no PRSI for 18 months.
“Finally, one of the key obstacles facing businesses around the country is access to credit. The Government fully recognises this, and through the Micro-Finance Fund and the Credit Guarantee Scheme loans are being made available to new start-ups and existing SMEs. “So now is the time to consider whether your business could benefit from any of these supports, which will help to bring about growth and job creation,” concluded Deputy Feighan