Supporting Indigenous Start Ups

The action points are:

Supports for entrepreneurs and start‐up firms can be enhanced further, therefore in 2012 we will:

2.1 Enact legislation to reflect the Budget announcement to extend the corporation tax holiday for those companies that commence a new trade in the years 2012, 2013 and 2014. (D/Finance)

2.2 Establish a new “one-stop-shop” micro enterprise support structure through the dissolution of the existing CEB offices and the creation of a new Micro Enterprise and Small Business Unit in Enterprise Ireland that will work with Local Authorities to establish a new network of Local Enterprise Offices (LEOs) in each Local Authority. The new LEOs will combine the enterprise support service of the previous CEBs and the business support work of the Business Support Units in the Local Authorities. A key role will be providing mentoring for micro-business. (DJEI, DECLG)

2.3 Roll‐out the micro‐finance fund, to provide loans of up to €25,000, targeted at start‐up, newly established, or growing micro enterprises across all industry sectors. (DJEI)

2.4 Promote the improved Seed Capital Tax Relief Scheme for new start‐ups, which will now apply to a wider range of sectors. This Scheme provides for a refund of tax paid by an individual, including those unemployed, who sets up and takes employment in a new business. (D/Finance, DJEI Enterprise Ireland, Business associations)

2.5 Establish a new Community Enterprise Development Programme for the maintenance or establishment of a strong business development function in the Community Enterprise Centres funded by Enterprise Ireland. This will see up to 30 centres benefit from a full‐time business development function, providing a 50% grant towards eligible costs or €50,000 over two years. (DJEI, Enterprise Ireland)

2.6 Deliver support to 95 new High Potential Start Ups including an increase of 50% in the number of overseas entrepreneurs supported, using the International Start‐Ups fund as a key tool, and an increase of 40% in the number of new HPSUs arising as spin‐outs from research. (DJEI, Enterprise Ireland)

2.7 Manage and deliver a suite of entrepreneurial development programmes in conjunction with partners i.e. Colleges, Business Incubation Centres and Start‐Up programmes. (Enterprise Ireland)

2.8 Develop and pilot, in the South East, an Innovation Graduates Programme managed in conjunction with the Institutes of Technology. (Enterprise Ireland)

2.9 Run a total of four calls of the Competitive Start Fund in 2012and target the support of 60 projects during the year. (Enterprise Ireland)

2.10 Run an accelerated growth programme for HPSUs to help them develop the management skills necessary to achieve rapid international growth. (Enterprise Ireland)

2.11 Launch a new Women in Business Start‐Up drive. (Enterprise Ireland)

2.12 Build on the work of the Global Irish Economic Forum to develop mechanisms to promote and deliver early stage investment by the Diaspora in new indigenous start‐ups. (DJEI / Enterprise Ireland)

2.13 Improve the legal environment to set up and operate a business by enacting the Consolidated Companies Bill. This Bill will be published in 2012. (DJEI)

2.14 Examine the options with regard to extending benefit cover to the self‐employed. (D/Social Protection)

2.15 Having due regard to the Public Service Reform Plan, we will review the role of the Digital Hub Development Agency and the National Digital Research Centre with a view to building on their work in supporting digital start‐up companies, as well as promoting an increase in on‐line trading by small businesses. (DCENR)