SMEs are the back bone of any economy
Sinn Féin MEP Liadh Ní Riada has called for greater supports be put in place for SMEs.
In a speech delivered to the European Parliament, Ms Ní Riada said
“As we're all aware, SMEs have been hit by the financial crisis. Since 2008 there has been an erosion of services to assist them. Member States need to waken up and realise the value and contribution they make to our economy.
Ms Ní Riada spoke out against the Capital Market Union claiming that a Public Banking System would be an appropriate solution to the access to finance for our SMEs
“A Capital Market Union is not the solution. Public banking, low interest loans and supports for the development of entrepreneurial skills are vital to nurture our SMEs. Access to finance should not be a barrier.
“They are the back bone of any economy and creators of much needed employment, yet the Irish Government gift multi-billion euro multi-nationals with practically zero tax while penalizing our SMEs.
“We have to get serious about putting adequate supports and incentives in place now if we are to see a growth in our SMEs. ENDS