logo
Government announces new Small Business Unit to oversee access to grants

Government announces new Small Business Unit to oversee access to grants

Irish Examiner23-05-2025

A new dedicated Small Business Unit based in the Department of Enterprise, Trade and Employment will oversee access to grants and supports for small and medium enterprises (SMEs).
SMEs - those businesses employing less than 250 people - account for 99.8% of all enterprises and 69.2% of persons employed according to the CSO. Enterprise, tourism and employment minister Peter Burke said the Small Business Unit will ensure the perspectives of small businesses are considered across Government before new legislation or regulation is introduced. It will also ensure the local enterprise offices are properly resourced to help small businesses, he said.
'Small businesses employ two thirds of our population and keep our local communities and economies vibrant and strong. Government must recognise this, and ensure we are providing the support that SMEs need to run their businesses successfully and continue to provide vital employment and economic benefit across the country," Mr Burke said.
The move is part of the Programme for Government commitments.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pre-tariff tech and pharma exports from Ireland boost first-quarter economic growth
Pre-tariff tech and pharma exports from Ireland boost first-quarter economic growth

The Journal

time19 hours ago

  • The Journal

Pre-tariff tech and pharma exports from Ireland boost first-quarter economic growth

ECONOMIC GROWTH IN Ireland surged in the first quarter of this year, as the threat of US tariffs on technology and pharmaceuticals saw exports boom. Gross Domestic Product (GDP), which measures the strength and performance of the Irish economy based on the output of domestic and multinational companies in Ireland, increased by nearly 10% in the first three months of this year. The latest figures from the Central Statistics Office (CSO) show that a 9.4% increase in exports last quarter largely contributed to the economic growth, particularly in multinational-dominated sectors like technology and pharmaceuticals. Exports grew as companies in those sectors sought to deliver their goods to the US before tariffs, implemented briefly by the country's president Donald Trump, came into effect. Advertisement The Republican almost immediately paused the taxes after they began to impact the American economy. It has been reported and stated by members of government that multinational companies have postponed rounds of investments over the instability. Domestic companies last quarter grew by 0.7%. Modified Domestic Demand (MDD), which measures economic performance in Ireland based on the output of domestic companies in Ireland only, grew by 0.6%. Finance minister Paschal Donohoe said the increase in GDP and export figures are likely to be temporary. He welcomed the growth in MDD rates as a reflection of resilience among Irish companies. 'In this more challenging global environment, we must focus on policy areas where we can exert influence,' Donohoe, who is also the President of the Eurozone finance ministers, the Eurogroup, said. He added:'In particular, continuing to boost our competitiveness will be key to ensuring that Ireland remains an attractive place to live, work and invest – not just today, but over the long term.' Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

Childcare fees to be reduced to under €200 a week from September
Childcare fees to be reduced to under €200 a week from September

Irish Daily Mirror

time20 hours ago

  • Irish Daily Mirror

Childcare fees to be reduced to under €200 a week from September

Childcare fees for some parents will be capped at just under €200 a week under new plans unveiled by the Children's Minister. Norma Foley confirmed that this could save parents paying the highest fees €1,500 over the course of a year. She also vowed that the Government will implement €200-a-month childcare fees over the course of this Government's five-year term. A new maximum fee cap will now be introduced for all new services availing of State funding through the Core Funding scheme from this September. Under these new maximum fee caps, the highest possible fees will be no more than €295 per week for a full-day place with 40 to 50 hours per week. This will reduce costs for families who are facing the highest fees across the country in around 10 per cent of early learning and childcare providers. These fees will be reduced further by State subsidies under the National Childcare Scheme and the free, universal two-year Early Childhood Care and Education (ECCE) preschool programme. A parent being charged the maximum permissible fee of €295 per week for a full day place would be entitled to receive the universal National Childcare Scheme subsidy of €96.30, meaning their own payment would be no more than €198.70 per week. Higher subsidies are available for many parents, depending on their level of income and the age and number of children in early education. Ms Foley said the Government is on an "unfinished journey" to reduce the cost of childcare. The highest cost of childcare fees ranges between €300 and €325 a week, with Minister Foley arguing that the fee freeze will save parents €1,500 per child. The Programme for Government commits to introducing €200 a month childcare. Minister Foley said: "We're absolutely clear that the Programme for Government has a very clear commitment around the €200 and that is our absolute goal. "I've been very clear that we would do that over the lifetime of this government. It will be incremental. "The steps we take today, we're starting at the very top where there's an extraordinarily high cost to parents and we're beginning to bring that down." Compared to this time last year, there has been an increase in 226 providers taking part in the Core Funding model. This is despite providers threatening to pull out of the scheme because it was not meeting their increasing costs or inflation. Ms Foley announced that increased Core Funding of €390 million will be available from September.

Irish economy expands by almost 10% as exporters rush to beat tariff deadlines
Irish economy expands by almost 10% as exporters rush to beat tariff deadlines

Irish Times

timea day ago

  • Irish Times

Irish economy expands by almost 10% as exporters rush to beat tariff deadlines

The Irish economy grew by almost 10 per cent in the first quarter, up from a previous estimate of 3 per cent, as exporters rushed to get merchandise in the US ahead of the imposition of tariffs . Central Statistics Office (CSO) data show the economy, as measured by gross domestic product (GDP), expanded by 9.7 per cent in January, February and March, one of the largest quarterly expansions on record. The agency said the increase was 'driven by significant growth in exports of goods'. Total exports expanded by 9.4 per cent in the first three months or by €18.2 billion with goods exports increasing by 14.8 per cent quarter-on-quarter, or €13.5 billion. The value of goods exports for the period was 44.1 per cent higher than a year earlier. READ MORE [ Welcome (back) to the era of Leprechaun economics Opens in new window ] Since April 5th, goods imported from all countries into the US have been subject to a 10 per cent tariff while US President Donald Trump has put a stay on a possible 50 per cent tariff on all EU imports until next month. Pharma accounts for the lion's share of Irish goods exports to the US and companies in the sector here have been fast-tracking product into the US to avoid incoming tariffs. The CSO's figures show the pharma-dominated i ndustry sector expanded by 17.1 per cent in the first quarter compared with the previous three-month period. By contrast, the domestic economy, as measured by modified domestic demand (MDD), grew by a more modest 0.8 per cent in the first quarter as personal spending on goods and services, a key driver of domestic activity, increased by 0.6 per cent. The information and communication sector, which contains the State's tech industry, posted an increase of 3.8 per cent over the same period. 'Today's GDP estimates for the first quarter of the year show that the Irish economy kicked off 2025 to a racing start,' said Robert Purdue, head of dealing at Ebury (Ireland). 'Irish exports took the lion's share of this growth as many businesses rushed to export goods to the United States before President Trump's tariff sanctions came into effect,' he said. 'While the GDP rebound is an encouraging sign of the resilience of the Irish economy, it also demonstrates its heavy exposure to trade challenges, with exports playing a vital role in the health of the economy,' he said. Separate figures from the CSO put the State's seasonally adjusted unemployment rate in May at 4 per cent, down from a rate of 4.1 per cent.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store