Tax reform for entrepreneurs must be priority for next government – Ibec Mid-West and Kerry

In advance of the upcoming general election, Ibec Mid-West and Kerry, the group that represents business in the region, called on the next government to introduce major tax reform that will support entrepreneurship and boost job creation in the region.

Ibec Mid-West and Kerry Regional Director Sinead Mullins said: “With unemployment in the region at nearly 10%, strong efforts must be made to ensure the recovery in the Mid-West and Kerry region is brought in line with rest of the country. The next government must develop an income tax system that treats the self-employed the same as PAYE workers. Tax incentives to encourage investment in Irish companies and a simplified R&D tax credit system can facilitate business and employment growth in the region.
 
“With these measures, the next government can support existing SMEs and foster a strong spirit of entrepreneurship in the Mid-West and Kerry. 81% of the region’s workers are employed by SMEs, highlighting the importance of these companies to the regional economy.

“In a study carried out by Amárach research, 77% of Munster respondents said the government should have a minimum number of people with business experience sitting at the cabinet table. The next government must recognise the intrinsic link between a strong regional business community and a well balanced economy.

“The research showed that 26% of Munster respondents would like their children to be self employed when they are older. With this in mind, the Mid-West and Kerry region must be prepared for a new generation of entrepreneurs to thrive. Tax reform for the self-employed is a good starting point.”

Munster respondents then selected the public service (23%), a large multinational (21%), a large Irish company (16%) or an SME (14%) as the other preferred career options for their children when they enter the work force.

“The findings from the Amárach research also indicated that 50% of total respondents feel the recovery has been limited to Dublin. As well as this, 59% of respondents agreed that grants should be available to help business relocate from Dublin to rural towns and cities. The goal should be to turn the Mid-West and Kerry into a region characterised by employment growth, quality infrastructure and a vibrant economy. With enough support and careful planning, this vision can be realised.”