Sarah-Jane Larkin, director general, Irish Venture Capital Association. Photo: Fennell Photography.
Dublin, Tuesday, 1st October, 2024: The Irish Venture Capital Association has welcomed what it calls “a very positive budget for Irish business and for individuals”.
“Budget 2025 has many measures which will enhance the environment in which businesses operate,” commented Sarah-Jane Larkin, director general, Irish Venture Capital Association.
She said that the planned investment of over €1billion in the Department of Enterprise, Trade and Employment’s jobs, enterprise development, innovation and commercialisation and regulation programmes “is a strong commitment to our enterprise sector”.
The IVCA also welcomed increases in the limit to the R&D credit from €50K-€75K. “This will be meaningful for early-stage knowledge intensive companies engaged in R&D activities and will have a very positive impact on cash flow at a critical point,” added Ms Larkin.
The IVCA commented that changes to CGT (Capital Gains Tax) treatment for qualifying investments by angels, and doubling the EIIS relief “are very positive and will result in mobilising private capital to innovative SMEs. The measures on listing expenses are positive and a step in the direction of creating an Irish investment culture in productive assets”.
The IVCA director general added: “While there was reference in Minister Chamber’s speech about future proofing the Irish economy, we strongly believe one of the best ways to achieve this is to broaden the capital base of institutional investment available to our indigenous companies. Increasing pension thresholds, while not enacting measures to encourage those institutional investors managing our pension savings to invest in the jobs of tomorrow is an opportunity missed.”
Ends
Press queries to:
Sarah-Jane Larkin, director general, IVCA, Email:
sjlarkin@ivca.ie
Mob: 087 320 9209 or
Ronnie Simpson, Simpson Consulting, Email:
ronnie@simpsonconsulting.ie
Mob: 086 855 9410
About the Irish Venture Capital Association (www.ivca.ie)
The Irish Venture Capital Association is the representative organisation for venture capital and private equity firms in Ireland.
An independent DCU report released in January 2020 found that Irish venture capital and private equity firms have invested €5bn in Irish SMEs since 2003 and, through syndication, have attracted in a further €3bn in funding from international firms.
Ronnie Simpson BBS, FPRII; Member, National Union of Journalists
Ronnie Simpson Consulting
Web: www.simpsonconsulting.ie
LinkedIn: https://www.linkedin.com/in/ronniesimpson
(Formerly of Simpson Financial & Technology PR).
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