At the National Economic Dialogue in Dublin Castle today, the Small Firms Association (SFA) called on the Government to shift its focus from multinationals to small, indigenous businesses in Budget 2019.
The Association says that all Budgetary measures should be assessed for their impact on small firms and no measures that impose additional costs on small companies should be introduced. The SFA also say the self-employed Earned Income Tax Credit must be brought to the same level as the PAYE tax credit.
According to the Association, capital gains tax rates need to be reviewed, they say the 33% rate and the restrictive limit on Entrepreneur Relief is a poor reward for years and often decades of hard work to build a business.
Speaking today, SFA Assistant Director, Linda Barry said, "It is clear to those of us working with small businesses that there is a single solution that would mitigate both these macro and micro challenges. We need a national Small Business Strategy, placing a clear focus on the 98% of businesses employing half the private sector workforce, which are the lifeblood of towns and villages around the country."
She added, "It is time for a plan to boost the number and performance of small businesses. It would give these businesses a better chance of succeeding and provide Ireland with a more resilient indigenous enterprise base."