Small Firms Association’s Post

2 businesses per day closed in 2023, with a projected 3 per day in 2024. (That was the projection in Q1, but since there's been over 11,700 businesses served demand notices by Revenue in May regarding their tax debt warehouse situation. So the figure of 3 per day for 2024 may be conservative. We can no longer ignore or sideline the reality of the newer and more grave pressure small businesses are under now (that's 98% of all the businesses in Ireland). Calling on Govt to do a 'PRSI rebate' as proposed by Small Firms Association, so as to effectively support every small business in our country rather than just those who pay rates (ICOB - 'Increase in Cost Of Business' package, the €257m support scheme is only getting paid to rate payers.) #sme #smallbusiness Minister Peter Burke and Department of Enterprise, Trade and Employment

The government has launched the Growth Guarantee Scheme, set to support 11,000 smaller businesses across the country! Whether you're a start-up or an established SME, this initiative may offer you the financial boost and security you need to scale and thrive. 💼 To learn more read here- https://lnkd.in/eJr5H2C5 #growth #smallbusiness #financialboost

Key finding: #Recruitment Roadblocks: A staggering 63% of companies face hurdles in attracting new #talent. The struggle to fill roles persists. Our key solution: consider training a #graduate to fill your #skills gaps. Advertise with us now to #recruit the class of 2024. Don't delay, they'll all have jobs soon!

🌟 Did You Know? 🌟 Over 99% of all businesses in the EU are SMEs, contributing to 56% of the total economic value within non-financial sectors. As part of this month's initiative to help improve financial literacy amongst businesses we encourage all SMEs to review their growth strategies. Whether its better cash flow management, cost reductions or expansion opportunities, make sure you have carefully planned these with your financial partners. #FinancialLiteracy #EUSMEs

Did you know that the U.S. government is the largest customer in the world? Government contracts can be a gateway to sustainable growth for small businesses, offering stability and a steady source of income. Here’s how the current administration is making it easier for small businesses to access these opportunities: Expanding Access: The Biden-Harris administration has set a goal to allocate 15% of federal contracting dollars to small businesses owned by socially and economically disadvantaged individuals by FY 2025. This initiative aims to foster inclusive economic growth. Awareness and Understanding: Despite the potential, many small businesses are unaware of the opportunities in federal contracts. Research shows that over half of U.S. small business owners are not aware of these lucrative opportunities, resulting in significant missed economic potential. Navigating Financial Hurdles: Access to capital remains a challenge. Innovative alternative finance options, like purchase order financing, provide small businesses with the necessary capital to fulfill large government orders, helping them manage cash flow and scale operations. Policy Priorities: There’s a need for more education and awareness initiatives to inform small businesses about the benefits of government contracts. Additionally, enhancing access to capital for underrepresented communities and improving collaboration between government agencies and financial institutions are key to unlocking the full potential of these contracts. Government contracts represent a valuable opportunity for small businesses to thrive in today’s competitive marketplace. By addressing the barriers of awareness and access to capital, we can create a more inclusive and resilient economy. Is your business ready to tap into these opportunities? VisioneerIT is here to help you navigate the federal contracting process and succeed in the marketplace. Learn more: https://vist.ly/3mg5hn2 #GovCon #SmallBusiness #GovernmentContracts #EconomicGrowth #VisioneerIT

The Business Basics Grants program provides Queensland small businesses with support to enhance core skills and implement best practices. This program focuses on boosting business operations and is available to businesses with fewer than 5 employees. The opening date for the Registration of Interest (ROI) period opens at 9am on Monday, 30 September 2024, and closes at 5pm on Friday, 11 October 2024. Interested businesses should prepare and submit their ROI within this time frame to be eligible for consideration. For more information, visit the official Queensland Government page: https://lnkd.in/gzBY7yP #businessgrant #SmallBusinessOwners #Queensland #Business

38% of smaller businesses in Scotland face barriers in access to finance. Download our latest report with Scottish Enterprise to find out more about the use of finance and the barriers smaller businesses in Scotland face. https://bit.ly/3wujZjF

We are grateful to the many businesses in our region that responded to the Small Business Credit Survey, part of our effort to advance a strong economy. Findings suggest a decrease in effects from the pandemic and modest improvement in #smallbusiness conditions. https://clefed.org/3wzR4ue

The Australian small business community faces a significant cash flow crunch, fuelled by soaring business and living costs and exacerbated by unpaid debt from the high number of business insolvencies nationwide. COSBOA has put forward targeted policy interventions to alleviate business costs. These interventions will support small business sustainability, enhance business resilience and lead to a reduced cost of living and an environment where both businesses and consumers thrive. COSBOA’s latest Small Business Perspectives Report highlights several critical challenges facing Australia’s small business sector, including the cost of doing business. Access the report here – https://lnkd.in/gsgHmiD3 #SmallBusinessPerspective #SmallBusinessData #SmallBusinessPolicy

Australian small businesses could benefit from lower lease payments/property tax if states charged rental property investors commercial property taxes. Owning and renting out properties is a for-profit business activity.  The low property taxes they pay are effectively subsidised by higher rates on all other businesses.