Saturday 24 February 2018

Great business if they can get credit

THE "partial loans guarantee scheme" announced by Enterprise Minister Richard Bruton represents a start, if only a start, on addressing one of the problems that plague Irish business in general and imaginative would-be entrepreneurs in particular.

It will be discussed by the Cabinet today, and will presumably be approved quickly. Similar arrangements already exist in most of our competitor countries, and Ireland should not lag behind them any longer.

Under the three-year scheme, the Government will guarantee 70pc of the capital for small start-up businesses that at present do not qualify for bank loans. The risk will be shared by the State, lenders and borrowers. Strict control of the operation of the guarantees is promised.

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