Microenterprise Loan Fund (Amendment) Bill 2024: Second Stage
Dail Éireann — 2024-03-20
============================================================

Neale Richmond (FG), Dublin Rathdown

On supports, two areas are receiving an immediate response because of the report by the Department of Trade, Enterprise and Employment, referenced by Deputy Quinlivan. It is important to acknowledge how tough it has been for many businesses, particularly in the retail and hospitality sectors. I do not just mean tough in general, but also due to many of the legislative and policy changes that have been introduced in the Houses and supported by all parties present. The majority of these businesses are small, if not microenterprises. The increased cost of business scheme is open for applications now. It is not an onerous application. It is not like TBESS; it is simply confirming that your bank account details are in order and you are still trading and that funding will be paid out by local authorities imminently. The week before last, the Minister, Deputy Coveney, also announced another package worth about €20 million. The increased cost of business scheme is worth about €257 million but there is another immediate package of about €20 million in energy supports while he works with colleagues in the Department as well as other Departments on an options paper for measures the Government can take. There need to be supports for business to allow us to continue these important changes to workers' rights and entitlements, which we also want to build upon. We realise and acknowledge that comes with a cost to many businesses, particularly small businesses. They need supports. I welcome Deputy Nash's contribution but I also genuinely welcome his queries and need for clarification. As we go through the Stages, I hope we will be able to go through that. He was very involved with this as a Minister of State who sat in this seat - literally sat in the chair I sit in now. His work is greatly appreciated, as is his ongoing input.
On Microfinance Ireland, it is an excellent organisation providing a vital service for our smallest businesses and startups. It fulfils a unique role providing finance to microenterprises that simply cannot secure it from other sources, ensuring that funds are available consistently, not just cyclically. It is great to see appreciation for its work this evening. The changes in today's Bill will secure its future by bringing it into State ownership and streamlining the administration of its oversight. By strengthening Microfinance Ireland's connection to our Department, it should also support further deepening of the existing working relationship between Microfinance Ireland and the local enterprise offices, as well as Enterprise Ireland, which also falls under the remit of the Department of Enterprise, Trade and Employment. By bringing it into this family, we can better nurture these networks and pursue practical synergies. I am sure there is genuine joined-up thinking across our Department's work. For these reasons, the Bill is an important step in paving the way for scaling up the organisation so it can help even more of our enterprises. I look forward to engaging with all Members in more detail on Committee Stage in due course. I thank them for their support.

---

Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted.

Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2024-03-20/debate/main
Retrieved: 2026-08-14T04:52:47+00:00
Sitting date: 2024-03-20