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Irish Post
25-05-2025
- Business
- Irish Post
Government announces dedicated unit to support Ireland's 'vital' small businesses
THE IRISH GOVERNMENT has announced the establishment of a new unit to support Ireland's small businesses, which provide 'vital employment and economic benefit across the country'. The Small Business Unit will ensure the needs and issues of small businesses have a dedicated focus within the Department of Enterprise, Trade and Employment and across government. As well as helping small businesses access grants and support, the unit's remit will also include implementing Ireland's SME Test. Announced last year, the test seeks to ensure small businesses are given due consideration when new policies are introduced so that they are not disproportionately impacted by regulations. 'Economic benefit' Announcing the establishment of the dedicated unit, Peter Burke, Minister for Enterprise, Tourism and Employment, emphasised the importance of SMEs to the Irish economy. "Small businesses employ two thirds of our population and keep our local communities and economies vibrant and strong," he said. "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." He added: "Since my appointment as Minister I have put small businesses front and centre of my priorities. "The Programme for Government sets out clearly how the needs of small businesses must have a dedicated focus and are recognised and acknowledged across government. "The Small Business Unit will focus on rigorously implementing the SME Test, to ensure the perspectives of small businesses are considered across government before new legislation or regulation is introduced. "The unit will oversee the simplification of information and access to grants and supports for businesses though the National Enterprise Hub. "It will also ensure the Local Enterprise Offices are properly resourced to help small businesses." SME turnover SMEs accounted for 99.8 per cent of all enterprises and 69.2 per cent of persons employed, according to the most recent CSO statistics on these businesses in Ireland. More than two-fifths (41.5 per cent) of total turnover and 34.8 per cent of Gross Value Added (GVA) was attributed to these SMEs. The establishment of the Small Business Unit comes after the government agreed last month to expedite the development of the Action Plan for Competitiveness and Productivity. The plan is intended to cover areas critical to Ireland's economic performance, including industrial policy, regulatory burden reduction, infrastructure, energy, trade and innovation. See More: Peter Burke, SME
Irish Examiner
23-05-2025
- Business
- Irish Examiner
Government announces new Small Business Unit to oversee access to grants
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.
Irish Times
02-05-2025
- Business
- Irish Times
Intel looking at ways to ‘monetise' Irish operation
Intel's Leixlip staff have been given some cause for hope in the face of global lay-offs at the chip maker, after company vice-president Chandra Shakerin said it is looking at how to 'monetise' its Irish operation. 'We have continued to explore progressive ways to monetise ... Intel 16 and we are working with Foundry customers to enable success with Intel 16 ... [which] we are running in Ireland,' he told staff worldwide at an Intel internal networking event held in California. Mr Shakerin also referenced the company's global supply chain where it had invested in its footprint 'for front end across North America and also in Europe, in Ireland as well as in Israel ... [where] we have built new factory space'. The Leixlip plant was one of a number of videos of Intel sites around the world Mr Shakerin showed to the audience, where the company is ramping its 4.3 node. 'It's the leading edge node in Europe,' added Mr Shakerin. READ MORE At the same event, chief executive Lip Bu-Tan told staff the firm needs to up its game as it faces competition from a slew of competitors. as he spoke on Tuesday at Intel Foundry Direct Connect 2025, a networking event, in California. While the semiconductor manufacturer has been beset with uncertainty recently with reports that it is due to lay off 20 per cent of its workforce globally as part of cost reduction measures, the CEO focused on areas of improvement: 'Our R&D investments are driving new process technology and advanced packaging solutions. We will continue to boost our manufacturing capabilities.' Mr Bu-Tan also said Intel had a diverse and resilient global supply chain and a robust footprint across the western hemisphere with 'the ability to expand at several of these sites based on customer needs'. Meanwhile the Minister for Enterprise, Trade and Employment Peter Burke met with senior management from the Intel plant in Leixlip at his offices this morning. According to a department spokesperson, it is likely to be several weeks before detail is available on the impact to Intel's Irish operation of any cost reduction measures the company may introduce. 'It is positive that the company have stated that they will continue to focus investment on their core business, the manufacturing of semiconductor products which is the primary activity in Ireland,' the spokesperson added. Intel did not immediately respond to a request for comment.
RTÉ News
01-05-2025
- Business
- RTÉ News
RTÉ write-down a 'further big disappointment'
Minister for Finance Paschal Donohoe said RTÉ's write-down is a "further big disappointment" on two levels. It was confirmed yesterday that the broadcaster had written down a figure of €3.6 million on a partly failed IT system, which was one of the projects funded from the proceeds of the sale of land at its Dublin site in 2017. Speaking to RTÉ's Today with Claire Byrne, Minster Donohoe said it should have been made clear at the point in time at which the issue occurred. "Secondly, millions of euro, for any of us, are still huge amounts of money, particularly when they're invested in projects that don't actually then happen in the way that was intended." The Minister said it is important that Minister Patrick O'Donovan continues with his work to ensure he, his department and the public are aware of these issues, and for the reform agenda in RTÉ to be completed. He said State funding for layoffs at RTÉ has been made available "in recognition of the fundamental importance of public broadcasting to the health of our society and democracy". "For me, a key issue here is also in relation to the timing of disclosure. When issues like this happen, you're always better off, when the facts are clear, making them available in a timely way as opposed to happening later, like this has happened," he said. "That is why it is a further disappointment, but it's also why Patrick O'Donovan is right to be doing this work fully understand the scale of these issues." The Minister for Enterprise, Trade and Employment, Peter Burke, said it's his understanding that Minister Patrick O'Donovan has sought a review of all projects worth more than half a million euro over the last five years. He said said the minister met with RTÉ last month and RTÉ is due to come back to him with more information. "It's important to let Minister Patrick O'Donovan resolve this issue and deal with it," he said. RTÉ terminated the contract with the one of the suppliers as a result of the issues that arose. The broadcaster said that "this was the subject of a Settlement Agreement which is the subject of a confidentiality clause". In August 2022, the project restarted following a phased approach and the finance system went live in March 2023. "RTÉ did not ultimately proceed with the HR modules," the broadcaster confirmed. The details of the write-down were first published by The Currency. In the article in The Currency, it is stated that former RTÉ board member Ian Kehoe was not involved in the editing of the story and did not view the article prior to its publication. Mr Kehoe, who is the Executive Editor of The Currency, was on the board of RTÉ from October 2018 to October 2023. He was a member of the Audit and Risk Committee of the board.
Irish Independent
28-04-2025
- Business
- Irish Independent
Thousands have received new pay-related jobseeker's benefit since launch last month
A new jobseeker's benefit linked to their previous pay was rolled out from March 31. Those who have paid at least five years of PRSI are entitled to a weekly payment worth 60pc of their earnings – capped at €450 – for the first 13 weeks out of work. A spokesperson at the Department of Enterprise, Trade and Employment said about 2,500 people were awarded the payment within the first two weeks of its launch. It has also been revealed that there was no major spike in redundancies notified to the Government in January and February this year – despite the expectation of US tariffs. Figures for last month are not yet available, but the latest data shows employers flagged 2,029 potential redundancies to Enterprise Minister Peter Burke in January and February. This is lower than 2,545 notifications of potential collective redundancies in the same months last year. Siptu research officer Michael Taft said the number of people that have received pay-related benefit is not surprising. 'There may be closures or job reductions, but people are able to find a job pretty quickly when the labour market is tight,' he said. 'The high churn means there is still low unemployment because people are not staying on unemployment benefit that long.' He said the national unemployment figure has been falling consistently over a number of years. 'It's a welcome development that they are introducing this pay-related benefit,' he said. 'However, Irish pay-related benefit for unemployment is very weak in comparison to other EU countries. ADVERTISEMENT 'You will find in other European countries, for average earners it can reach as high as 70pc of their previous earnings and can last a lot longer.' He said it means household incomes do not 'fall off a cliff' in the event of a job loss, and there is a reduced impact on the 'shops down the street' in terms of consumer spending. Mr Taft said linking the benefit with pay prevents households falling into debt and means those who are unemployed do not have to take the first job that comes along. 'During the recession, you had highly skilled people taking up jobs in burger joints, which was really of no value to the economy,' he said. However, he believes the payment rate should not fall until nine months have passed, and would like to see pay-related maternity and paternity benefit. 'There are two main stresses in the workplace,' he said. 'Will I have enough money in retirement and what will happen to me and my family if I became long-term ill? The State can devise programme to take away those stresses.'
