Cabinet expected to approve plans to increase supports to companies

The Cabinet is on Tuesday expected to approve plans to allow Enterprise Ireland to increase supports to companies, including those affected by Brexit.

The proposed changes, which will require legislation to be passed through the Oireachtas, will free Enterprise Ireland to increase the range of supports it already offers client companies.

It will also extend the range of companies that the agency can support to include businesses involved in horticulture, for the first time.

The bill is part of the Government’s response to Brexit, though it will not be in place for some months.

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It will also introduce increases in the grant ceiling for a number of state agencies.

An Enterprise Ireland report earlier this month found that Brexit was already having a significant impact on Irish exporters, with one in 10 saying it has cost them more than €100,000.

Some 53 per cent of Enterprise Ireland client companies said Brexit was affecting their business, with almost 5 per cent putting the cost at more than €250,000 to date.