Government’s Action Plan for Jobs could benefit Mayo businesses

Businesses across Mayo are urged to check whether they are entitled to any of the Government schemes available to help start-up, expand, or create new jobs.

The call has come from Fine Gael TD John O’Mahony following the launch of a new information leaflet for businesses outlining 15 different schemes on offer to help businesses to develop and create jobs.

“It’s become clear that many businesses are unaware of the range of supports and initiatives open to them to help them, whether it’s to start a new venture, expand an existing enterprise, or take on new staff. The Government is determined, through the Action Plan for Jobs, to bring about the right conditions for job creation. And by helping businesses to help themselves, we can bring about sustainable jobs growth.

“I’m encouraging Mayo business people to check out the supports on offer. For example, if you are starting your own business, under the Seed Capital Scheme you can claim back up to €100,000 in income tax paid, and invest it into a company subscribed as shares. Certain start-ups can also avail of a three year exemption from corporation tax, while the Back to Work Enterprise Allowance allows social welfare payments to be retained if an unemployed person starts up their own business,” explained Dep O’Mahony.

For those looking to expand their business, a number of incentives and tax relief schemes are available to make investment easier. The Employment Investment and Incentive Scheme provides tax relief for investment in certain corporate trades, the R&D tax credit allows companies to offset some of their corporate tax liability, and €5,000 innovation vouchers are available to help you explore a business opportunity.

Access to credit is frequently mentioned as the single biggest obstacle facing businesses. Through the Micro-Finance Fund and the Credit Guarantee Scheme, loans are being made available to new start-ups and existing SMEs. To tackle unemployment a range of measures has been introduced to make it easier and more attractive for employers to take on more workers. These include the Revenue Job Assist, which encourages employers to give jobs to those on the live register, and the Employer Job (PRSI ) Incentive Scheme, under which employers can take on someone who has been unemployed for six months and pay no PRSI for 18 months.

 

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