Small Firms Association congratulates Peter Burke, TD on his reappointment as Minister for Enterprise and Employment

Thursday, 23^rd January 2025 - The Small Firms Association (SFA), the leading representative voice for businesses employing up to 50 people, congratulates Peter Burke, TD on his reappointment as the Minister for Enterprise and Employment. The SFA is confident that Minister Burke will continue his positive collaboration with the small business community in the months and years to come.

The SFA is encouraged by some of the measures in the Programme for Government aimed at assisting the small business community. Most notably, the proposed establishment of a small business unit in the Department of Enterprise & Employment and a commitment to publish Enterprise 2035 which is a long-term ambition for enterprise growth and job creation over the coming decade. These commitments chime with the SFA’s General Election Manifesto which called for both a strategic roadmap for small business sector and a temporary PRSI rebate to assist struggling small businesses. More specifically, the commitment to change the PRSI tax system is an encouraging development.

Reacting to the appointment of Peter Burke, TD as Minister for Enterprise and Employment, David Broderick, SFA Director said:

“The SFA congratulates Minister Burke and is eager to build on the positive engagements that we have had with the Minister and his team in the past year. I am especially pleased that in his Dáil speech today, An Taoiseach Micheál Martin has responded to the SFA’s request to develop a roadmap for long-term stability of small businesses. It is also encouraging that he sees this commitment as an early priority which will include extensive consultation which the SFA is more than happy to be a part of.

“Much of the small business sector is struggling with spiralling business costs in recent years. With the National Minimum Wage increasing again in January, and with the incoming introduction of Auto-enrollment, many businesses will be facing difficult decisions to ensure viability over the next few months. This is why the SFA is calling for a temporary PRSI rebate for small businesses be put in place a soon as possible.”

Rising business costs is the main concern for small businesses across the country. In mid-2024 the SFA, in partnership with Amárach, published an extensive survey on business costs. Almost 500 businesses nationwide were interviewed which found that eighty-three percent of small businesses have experienced rising costs in the past 12 months.

The research also showed an estimated increase of 16.6 percent in average business costs during that time. 57 percent of businesses say that labour costs have contributed to rising costs. SFA’s ‘cost of business’ survey also showed that 45 percent of small businesses say insurance costs have contributed to overall rising costs while 37 percent cited an increase in raw material costs.

ENDS

Notes to editor:

• SFA Director David Broderick is available for interviews and additional comment.
• For media queries please contact Jonathan McDade at 087 625 3551 and jonathan.mcdade@sfa.ie
• Please find SFA General Election Manifesto Campaign here
• Link to SFA's ‘Cost of Business’ report from May 2024 is available here

The Small Firms Association proudly represents a diverse membership of businesses with less than 50 employees: homegrown and spanning every sector of the economy with members found in every town and every city in Ireland.