Tag Archives: Local Enterprise office

The key to Ireland’s future success is enhancing equity finance and investment in  small firms to encourage future growth. That’s according to The Small Firms Association chairman, AJ Noonan. Speaking on this Monday, he said, “Irish small firms rely heavily on banks as a source of external finance which makes them vulnerable to changes in the banking sector. As banks  comply with more regulations, lending to SMEs will remain restrictive compared to the pre-crisis period. This is a problem and therefore, a greater diversity of funding options are necessary to ensure a constant flow of finance. The SFA chairman highlighted the fact that equity finance is not widely used by  Irish small firms. The European Central Bank’s latest SAFE survey shows only 8% of the SMEs used equity finance as a source of funding. “Currently in Ireland the demand for equity finance is low, as there is no  culture or tradition of using equity finance. Also small firms fear that they will lose control …

GOVERNMENT top brass will be out in force tomorrow (Tuesday) for the national launch of the Local Enterprise Offices (LEOS). Taoiseach, Enda Kenny; Tánaiste, Eamon Gilmore; Minister for Jobs, Enterprise and Innovation, Richard Bruton and Minister for the Environment, Community and Local Government Phil Hogan will attend the launch at Westmeath Local Enterprise Office in Mullingar. Tomorrow’s event will announce that the 31 Local Enterprise Offices, based in every county, are now open for business and that 35 independent State agencies previously providing services in this area are now abolished. The LEOs will provide a “first-stop-shop” for all government supports for small business in easily accessible locations across the country.