Small businesses across South Dublin will benefit immediately from measures announced in Budget 2025, a Fine Gael Minister has said.
Minister for Business, Employment and Retail and local TD, Emer Higgins said: “I am delighted that in Budget 2025, small retailers and the hospitality sector will immediately benefit from the new €4,000 Power Up grant.
“This grant will make a significant difference for SMEs in South Dublin, landing before Christmas and without restriction, supporting every registered retailer, café and restaurant whose rateable valuation is under €30,000.
“Tax changes being introduced will help small businesses, with VAT threshold being increased to €85,000 for goods and €42,500 for services providing a real cash flow benefit.
“Fine Gael recognises the challenges faced by those who are self-employed and have brought forward income tax credit changes to allow them to keep more of their hard-earned money.
“Employers will be now able to reward staff in South Dublin with up to €1,500 in tax-free non-cash rewards spread across five instalments.
“Training and upskilling for staff are crucial in the modern workplace and Government is acutely aware of this, making €20m available for businesses to upskill their staff, with €8m being targeted at SMEs,” Higgins said.
Fine Gael will also support these employees and their families, putting money back in their pockets and a time when they need it the most.
“I know that succession planning is at the forefront of the minds of family businesses in South Dublin. Under Budget 2025, Fine Gael is ensuring t businesses can stay in family ownership without tax penalties by making changes to the Capital Gains Tax Retirement Relief.
“The Angel Investor Relief has supported economic activity in South Dublin and encourages successful business people to share their expertise with emerging and growing enterprises. An increase to €10m in allowable gains taxable at 16% will further drive this innovation.
“Start-ups are an important part of the economy in South Dublin and Budget 2025 will enhance the Start-Up Relief for new small companies, making it easier for them to survive and thrive.
“Fine Gael recognise the challenges for SMEs in introducing some government measures, and as such have deferred auto enrolment introduction to September, postponed an increase to sick leave days, and the Minister for Enterprise will initiate a review of cost base of businesses and timelines for living wage to ensure the pace is much more appropriate.
“Both I and Fine Gael will continue to advocate for small and family-run businesses in South Dublin and across Ireland.
“I welcome this pro-SME budget from Enterprise Minister Peter Burke and look forward to engaging with small businesses in South Dublin on how government can further support them with the challenges they face,” Higgins concluded.
