New entrepreneurship plan to support start-ups in creating 93,000 jobs – Barry

Fine Gael TD for Cork East, Tom Barry, says a new plan aimed at creating 93,000 jobs, launched by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, Minister of State for Skills, Research and Innovation, Damien English TD and Minister of State for Business and Employment, Ged Nash TD, should act as a kick-start for local entrepreneurs.

“ I established a grain drying and warehousing business in 1995, I was a start-up company once, I went on to grow enough that I could employ local people and I am keenly aware of the challenges that new businesses face. Start-up companies, however, are essential to our economy as they account for two thirds of all new jobs created in Ireland in the first five years of existence. These businesses are hugely important, and must be supported in every way possible.

“The plan launched today aims to increase the number of start-ups by 25%, meaning 3,000 new businesses will be created every year. It will provide additional support to improve the survival rate of new businesses, assisting 1,800 companies in their first five years, and the plan will improve the capacity of start-ups to grow.

“This Government is committed to job creation and so far over 70,000 jobs have been created. One of the biggest problems we face however is making the recovery local and spreading job growth throughout the regions. That is why the Government’s National Policy Statement on Entrepreneurship in Ireland launched is so important. Start-up businesses provide essential employment in all parts of the country and I am delighted that a plan is in place to make this support available.

“ Key measures in the plan include new mentoring services, entrepreneurship programmes, new marketing plans and doubling the funding to start-ups from angel investors, who are successful entrepreneurs reinvesting in other companies.

“This plan will specifically focus on promoting under-represented groups including women, young people, migrants and older people and it will introduce measures to assist start-ups to sell abroad.

“Taxation and administration have been barriers to starting a business. This plan has laid out taxation measures that would assist new business and I support Minister Bruton in his submission for Budget 2015 on these issues. Minister Bruton has called for relief on income tax, capital gains tax, incentives for employment and investment among other measures.

“This plan has drawn on expertise from people who have done it before, from academics and Government departments. In Ireland we have great entrepreneurs but we don’t have enough of them. The plan launched today is a very important step towards creating 93,000 additional jobs.”