What's the Good News for Local Businesses? Key Highlights from Budget 2025!
The recent Budget announcement packed pro-business initiatives to safeguard our economic well-being and support businesses across Ireland.
Here's a quick snapshot
💰 €170 Million Power Up Grant: A new grant to assist businesses in the retail and hospitality sectors, providing much-needed support for energy costs.
📈 Minimum Wage Increase: An 80-cent increase to the National Minimum Wage, benefiting workers and promoting fair pay.
Increases to the VAT registration thresholds that apply for the supply of goods and services to €85,000 and €42,500 respectively,
Increases to the earned-income tax credit and changes to retirement relief.
🌍 Regional Development Focus: An additional €15.5 million allocated to the IDA to enhance regional development and attract Foreign Direct Investment (FDI).
🚀 Support for Innovation: €9.7 million for Enterprise Ireland to fund innovative startups and targeted decarbonisation initiatives, fostering growth and sustainability.
🔧 Increased Investment: Enhanced funding for regulatory offices to ensure effective business support.
Minister for Enterprise, Trade and Employment, Peter Burke TD, emphasized the importance of SMEs, stating: “Over 95% of all companies in Ireland are SMEs and they are vital to our success as a broad-based economy.”
This budget allocation of €1,035 million reflects a commitment to empowering businesses and addressing ongoing challenges.
Find a full overview here
https://lnkd.in/dT5jUqrQ
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