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Seanad
‹ Order of Business

Technology investment and entrepreneurship

Summary

Senator Keane welcomes Slack’s decision to locate in Ireland and the Government’s measures encouraging people to establish companies; she also expresses sympathy to Derek Davis’s family.

I sympathise with the family of the late Derek Davis. Every time I saw him on the screen he had a smile and there was a lot going on behind it. He was a great communicator. Ar dheis Dé go raibh a anam.

I welcome today's announcement by the company behind the workplace messaging application Slack that it is coming to Ireland. It is a big technology company belonging to the owners of Flickr, the photo-sharing software. It is a great announcement. I also welcome the Government's announcement yesterday evening that it was to encourage people to start up their own companies. People will be able to reclaim tax on investments for six years. There was a seed capital fund in place which was similar, but as Mr. Mark Fielding of ISME said, it was so convoluted and difficult to access that take-up was very slow. The new scheme announced by the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton, is called SURE. It will make it easier for ordinary people, particularly those who are retired and have a few bob with which they want to start a company, to claim back tax. There will be less red tape than under the old seed capital scheme and the new scheme will also be open to those who are unemployed or have been made redundant. Mr. Fielding said one would need a degree in linguistics to read the instructions for the old scheme, never mind apply for it. I ask for a debate in the House. The Minister of State, Deputy Gerald Nash, has set up a high level group to look at regulations and red tape for small businesses, specifically how to make the regulatory input analysis, RIA, easier for small businesses starting up. It is ten years since the regulatory input analysis was set up. The Minister of State is asking for submissions and has written to the various committees. We should discuss this issue in the Seanad also, as we are getting a lot of queries. What better place to discuss how to make it easier and how the Government could make it more accessible?

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