Deirdre Mahon: 'It’s important for small businesses to have the support to feel the confidence to move forward.' Photograph: Dara Mac Dónaill/The Irish Times
Existing VAT registration thresholds for businesses are set to rise from €37,500 to €40,000 for services and from €75,000 to €80,000 for goods. Ms Mahon also welcomes announcement of €250 million in one-off supports for businesses, but says it is difficult to say how helpful it will be without seeing the detail of how the funding will be used.“That would be really helpful because obviously things like electricity and other costs are getting higher and higher. I suppose I would be interested to know how they’re going to break that down ... but it’s good news,” she said.
Ms Mahon welcomes the announcement, highlighting that smaller businesses often don’t have the time or expertise to apply for Government supports and initiatives.