The Small Firms Association (SFA) has today launched a new policy paper entitled, ‘Moving the economy forward after COVID-19’.
The paper highlights the growing concern amongst small businesses that more needs to be done by Government to support small businesses at this time.
The SFA believe that planning needs to begin now to ensure that the reboot is felt across the country, throughout the economy and that its impact is sustainable and job rich.
The Association is also calling for the creation of a SME Reboot Taskforce, made up of key stakeholders to consider areas of action to reboot the small business community across the country.
Speaking this week, Chair of SFA National Council, Graham Byrne said, "For small businesses to recover, they need a cash grant to enable them to meet current outgoings, 100% relief on business rates for the remainder of 2020 and VAT deferral for the next two quarters. To further meet the liquidity crisis, €2 billion should be made available through the Strategic Banking Corporation of Ireland for low interest rate investment and working capital loans to impacted businesses."
He added, "Small businesses – including those that were forced to close as well as those who are remaining open but suffering a significant loss of income – should be able to access COVID-19 cashflow and liquidity measures as quickly and efficiently as possible."