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05/11/2013
Funding For SMEs Will Enable Growth - Labour
Labour TD Dominic Hannigan has said that the €125 million fund announced for Irish SMEs will enable qualifying businesses to grow their export markets.
Mr Hannigan said: "This funding is being made available as part of the Action Plan for Jobs under the Government’s Development Capital Scheme. One of the key objectives of the Action Plan is the setting up of funding programmes for SMEs so that they have the financial support to grow their business and seek opportunities in domestic and foreign markets.
"As Chairperson of the European Affairs Committee, I am interested in furthering the discussion on how Irish SMEs can develop into other European markets so they can expand and grow. I am confident that this scheme, aimed at mid-sized businesses looking to grow their export markets, will assist with this. It will focus on technology and manufacturing companies that are involved in engineering, food, life sciences, services and electronics.
"I also recently conducted a survey of businesses in Meath and more than half of those that replied told me that they had bad experiences when it came to getting finance from the banks. Funding programmes like this one allow SMEs to approach non-traditional sources that may be more willing to take on a risky investment than the banks currently are. We can't expect the traditional funding sources to suit every business so investment programmes like this one can be of real benefit to the economy."
(CD/IT)
Mr Hannigan said: "This funding is being made available as part of the Action Plan for Jobs under the Government’s Development Capital Scheme. One of the key objectives of the Action Plan is the setting up of funding programmes for SMEs so that they have the financial support to grow their business and seek opportunities in domestic and foreign markets.
"As Chairperson of the European Affairs Committee, I am interested in furthering the discussion on how Irish SMEs can develop into other European markets so they can expand and grow. I am confident that this scheme, aimed at mid-sized businesses looking to grow their export markets, will assist with this. It will focus on technology and manufacturing companies that are involved in engineering, food, life sciences, services and electronics.
"I also recently conducted a survey of businesses in Meath and more than half of those that replied told me that they had bad experiences when it came to getting finance from the banks. Funding programmes like this one allow SMEs to approach non-traditional sources that may be more willing to take on a risky investment than the banks currently are. We can't expect the traditional funding sources to suit every business so investment programmes like this one can be of real benefit to the economy."
(CD/IT)
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