Private enterprise: how entrepreneurs and SMEs fared

While tax rate continuity for SMEs is to be welcomed, there were still missed opportunities in Budget 2022

‘More and more Irish businesses are turning to the export market as well as looking to the international market for funding, so retaining the 12.5 per cent corporation tax rate for these businesses allows them to compete with similar-sized businesses established elsewhere’

Small and medium-sized enterprises (SMEs) are regularly described by government as being the backbone of the Irish economy and the government has been conscious to present itself as being acutely aware of the role that indigenous SMEs play in job creation. The government is also mindful of the need for Ireland to remain competitive so that the country stands out as an attractive place for SMEs and entrepreneurs alike to establish and grow their businesses.