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Down to Business asks what do SMEs want from Budget 2016?

With Budget 2016 happening on Tuesday, Bobby Kerr has been looking at what it will mean for Irish...
Newstalk
Newstalk

10.58 10 Oct 2015


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Down to Business asks what do...

Down to Business asks what do SMEs want from Budget 2016?

Newstalk
Newstalk

10.58 10 Oct 2015


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With Budget 2016 happening on Tuesday, Bobby Kerr has been looking at what it will mean for Irish businesses.

Economist Jim Power, CEO of the Irish Small and Medium Enterprises Association (ISME) Mark Fielding and Fabian Peyaud from the Farming App 'Herdwatch' and this year's winner of the AIB Start-Up Academy all joined Down to Business and discussed what they want, and expect from the next Budget.

Mark Fielding and ISME have already outlined their main areas of concern in their pre-budget submission, and is particularly concerned about the level of tax being levied on entrepreneurs at the moment. As self-employed workers they pay significantly more tax than the people who they employ.

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He says that this is a matter of leveling the playing field - rather than offering incentives to encourage innovation.

Based in Roscrea, Co. Tipperary Fabian Peyaud from 'Herdwatch' called for a new plan to ensure that high quality broadband is available in all parts of the country. As a tech business operating outside of Ireland's urban hubs, he says that this is "a matter of life and death" for small Irish companies.

He also said that as a SME which fits more into the 'S' category than the 'M', he would like to see Ireland mirror the UK's decision to offer extra tax reliefs for investors who back early-stage start-ups.

Looking at the macro-picture, Jim Power says that this will be the "most positive" budget since 2007:

"Clearly there's a major political imperative to try and win favour with the electorate - from an economic perspective the government has gotten some warnings in recent weeks", in particular about the dangers of an over-expansive pro-cyclical budget in the current economic environment.

However, he thinks that these economic considerations are likely to go "out the window" as political concerns come to the fore.

On air and online, Newstalk will keep you posted with breaking news, opinion and analysis throughout Budget day.


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