Micro Enterprises – Government takes a good idea and delivers a costly bureaucracy
The Committee for Jobs, Enterprise and Innovation today heard a presentation from the government supported MicroEnterprise Ireland today.
Speaking in advance of the meeting Sinn Féin spokesperson Senator David Cullinane said;
“Microenterprise are start-ups and small companies, many are sole traders or employ less than five people. These companies are the life blood of local economies. Sinn Féin has consistently called for innovative credit lines to establish and grow these types of companies.
“Over a year ago the government promised the scheme would deliver €90million in additional lending to 5,500 micro-enterprises over 10 years. To date Microenterprise Ireland has cost €1.1million to set up and run for a year and delivered only €1.62 million in loans across 107 enterprises.
“It is clear that the government has taken what is a recognised good idea and delivered a press conference and a costly bureaucracy. The government needs to fundamentally review this programme and look at other models of delivery such as peer group lending.”