Small Firms Association welcomes extension of cost of business supports

February 21, 2023

Small Firms Association (SFA) Director David Broderick welcomed the announcement, stating: “The extended supports announced by Government today is welcomed, particularly the extension of the 9 per cent VAT rate to the end of August which will benefit small firms in the experience economy, which includes hospitality, cinemas and hairdressing.

 “We also warmly welcome the new level for entry into the Temporary Business Energy Support Scheme (TBESS), which will allow more businesses apply and will help with cashflow at a time where our smallest employers continue to face cost challenges in every area of business be it labour, transport, insurance, banking, and utility costs.

“While it is disappointing to see applications to the TBESS have been lower than expected, hopefully this new entry level and a more simplified application process will safeguard small firms most affected by rising energy costs.”