Launching its Budget 2024 submission on Monday, the Small Firms Association (SFA) called on Government to continue to back Ireland’s small businesses and entrepreneurs to stay ahead in a rapidly evolving business environment.
Small business priorities for Budget 2024 include tackling the increasing costs of doing business; sustaining investment and reward and retain talent through the tax system; supporting small businesses to stay ahead in a rapidly evolving business environment; and creating an inclusive and diverse small business community.
SUPPORTIVE ACTIONS NECESSARY
Describing the reality facing small business in Ireland as being ‘more and more difficult to do business due to continuing rising costs’, David Broderick, SFA Director is calling on government to help reduce the cost of doing business, as well as the regulatory burden.
“To make Ireland a better country for entrepreneurs, SFA would like Capital Gains Tax to be reduced to 20% and the lifetime limit for CGT Entrepreneur Relief increased to €15 million and remove the 50% working time test to help incentivise investment in small firms and benefit from expertise and experience. To reward and retain staff, SFA is also calling for the Small Benefit Exemption to be paid in four, tax free payments, each year and increase the combined value of the four benefits to €2,000.
“This Budget must deliver a supportive set of actions and measures tailored for our smallest employers to adapt to the digital and climate transitions. It must also introduce supports and initiatives to address challenges facing social groups that are under-represented or disadvantaged in entrepreneurship and employment and provide funding and advice to build and create inclusive workplaces.”
Mr Broderick concluded: “Small firms and entrepreneurs are responding to the challenges and opportunities of Ireland’s economy; they want to invest and expand their business and achieve a green transition. To reward and incentivise their ambition, Budget 2024 must place a clear focus on Ireland’s small business community.”
 called on Government to continue to back Ireland’s small businesses and entrepreneurs to stay ahead in a rapidly evolving business environment.){kind=link}