Frank O’Rourke TD has called on the Government to provide more support for the Irish SME sector given its importance to the Irish and indeed local Kildare economy
“Two recent reports have cited rising costs as a main concern for 50% of Irish SMEs. The SME sector is the backbone of the economy. We need to support them and help them create and sustain jobs. Rising costs, such as rates and Insurance, is a big …problem for many SMEs and it needs to be addressed.”
“The two recent reports prepared EY-DKM Economic Consultants and Bibby Financial Services, have both highlighted rising costs, cashflow management and Government regulations and key concerns for SMEs.”
“Despite many Government announcements on tackling prompt payments for SMEs, two in every five respondents stated that payments collection is the principal challenge to cashflow.”
“Over recent years, I have consistently raised the cost of rates and insurance as being a key element of rising cost for businesses. The cost of both motor insurance and business insurance remains stubbornly high for households and businesses across the country. The average annual cost of motor insurance now stands at €750 compared with €450 in 2014, an increase of nearly 70%.”
“We need to address the rising costs, for business and for families, if we are to protect our jobs for the future.”