The Government is expected to announce new financial supports for companies which have been negatively affected by the latest Covid-19 restrictions. Tánaiste Leo Varadkar has said that the new scheme must be targetted at helping businesses in the hospitality, late night and live entertainment sectors. The latest Covid-19 restrictions came into force on Tuesday and…
Tag Archives: small business
The new dedicated rescue process for small companies, that makes restructuring faster, cheaper and more efficient, launches from today. Similar to examinership, the scheme is available to eligible to all small and micro businesses in the country. However, examinership was seen as too slow and cumbersome for many small firms, leading the Government to accede…
Venture capital funding to Irish firms rose by 19% to €231m in the three months to the end of September, according to the Irish Venture Capital Association’s latest VenturePulse survey. The figures also show a renewed interest among investors in start-ups companies, following a sharp drop in early stage investments last year. The overall in…
There is a lot of uncertainty around the welfare of Ireland’s economy due to the impact of the COVID-19 pandemic. These predictions could provide some clarity on the forecasts regarding the positive and negative effects on the economy for 2021 and the remainder of 2020. COVID-19 to cause an estimated 8% contraction in Ireland’s economy…
Almost half of those working in the accountancy profession have called for greater leniency on filing deadlines, interest and penalties as companies try to cope with the effects of Covid-19, a new survey shows. The survey, conducted by Chartered Accountants Ireland among almost 2,000 members on the island of Ireland, also shows that liquidity and…
A survey reveals that despite enforced business closures, challenging restrictions and loss of revenue, 51% of Irish SMEs are feeling optimistic about the future of their business. The Future of Business Survey, run by Facebook in collaboration with the World Bank and the OECD, surveyed 30,000 SMEs on the social media giant across 50 countries…
The Government has given the go-ahead for the publication of proposed legislation that will, if enacted, establish the new credit guarantee scheme to help businesses impacted by the Covid-19 crisis. The scheme, first announced two-and-a-half months ago, will see up to €2bn in low cost loans made available to struggling firms, with 80% of the…
Over 65% of global firms expect Covid-19 to have a negative impact on revenues in 2020, according to the Grant Thornton International Business Report, which provides insight into the views and expectations of more than 10,000 businesses across 29 economies. It reveals that 40% of businesses anticipate a decline of less than 20% in revenues,…
The Competition and Consumer Protection Commission has warned businesses that despite economic challenges, they must act independently in their commercial decisions, especially when setting prices and charges. The warning comes on the back of engagement between the CCPC and a number of trade associations after they made public statements about new potential charges and price increases,…
Decisions taken in the next six months will impact the small and medium enterprise sector for the next five years, according to a treasury specialist who works closely with the sector. John Finn, Managing Director of Treasury Solutions – which helps businesses deal with a range of issues including cash flow, lending and currency management…