Dáil Éireann Debate, Wednesday - 6 May 2026
285. Deputy Michael Cahill asked the Minister for Enterprise, Tourism and Employment to urgently examine and put in place measures to assist service-based startups (details supplied); and if he will make a statement on the matter. [32092/26]
View answerThis Government recognises the importance of developing the services industry in our rural towns and communities. Not only do they encourage economic activity, but they also contribute to placemaking and tourism activity.
I would encourage any entrepreneur looking to start up a business such as this to first visit the National Enterprise Hub (NEH). The NEH is an all-of-Government service for businesses that brings together multiple agencies and Government departments under one roof (www.neh.gov.ie). The purpose of the NEH is to simplify access to grants and support services for businesses. It is staffed with trained expert advisors within Enterprise Ireland who can guide small business owners to find the support they need.
Since launching last year, the NEH has handled over 12,000 enquiries and Monthly volumes have grown steadily.
I would also suggest contacting their Local Enterprise Office (LEO). LEO business advisors are well versed in the broad range of supports available across a variety of government bodies and provide a range of business mentoring and training courses aimed at providing business owners and new entrepreneurs with advice and skills to start up and grow their own businesses. The Start Your Own Business programme, in particular, can assist new entrepreneurs in assessing their business idea, its viability and to decide if they should proceed.
LEO Business advisors can also assist business owners in preparing and submitting applications to Micro-Finance Ireland (MFI), who offer small business loans at a reduced rate, that can assist with start-up costs. Applications received through the LEOs are offered at a 1% lower rate. MFI provides loans of up to €50,000 to micro-enterprises employing fewer than 10 people. The scheme is primarily intended for businesses that have been unable to secure funding from commercial lenders.
The Growth and Sustainability Loan Scheme (GSLS) is a €500 million long-term, low-cost loan scheme jointly developed by the Department of Enterprise, Tourism and Employment and the Department of Agriculture, Food and the Marine. The scheme is supported by the European Investment Bank Group (EIBG) through a counter-guarantee to the Strategic Banking Corporation of Ireland (SBCI), which delivers the scheme through participating finance providers.
The GSLS offers loans of between €25,000 and €3 million, with terms of up to 10 years, to SMEs, farmers, fishers and small mid-cap and loans of up to €500,000 available unsecured. The scheme is due to remain in operation until 30 June 2026, or until its €500 million funding envelope is fully utilised, whichever occurs first, and has attracted very strong demand since its launch.
In recognition of the importance of maintaining access to affordable long term finance, and in response to the strong demand for the scheme, I , together with the Minister for Agriculture, Food and the Marine, have brought proposals to Government to expand the GSLS and extend its closing date to 30 June 2029, subject to Government approval.
Subject to such approval, an expanded and extended GSLS would help ensure continued access to vital, low cost finance for SMEs, support sustained investment in green and growth oriented activities, and further underpin Ireland’s broader objectives in relation to economic resilience and sustainability
