New fund to help firms become more competititve
Enterprise Ireland is setting up a new fund to help firms improve their competitiveness in the market place, it emerged today.
In 2007, a total of 122 businesses applied for grants from the Productivity Improvement Fund to upgrade innovation, technology and staff training programs.
However Enterprise Minister Micheál Martin said a new scheme is being established to respond to a more challenging market place.
“From early 2008 Enterprise Ireland will offer a new support fund that will build on the success of the Productivity Improvement Fund,” he said.
“I would encourage any small or medium sized firm that is considering making an investment to improve productivity during 2008 to examine if they are eligible for support.”
Mr Martin welcomed the strong uptake of the Productivity Improvement Fund in 2007 across all regions and industrial sectors.
He said: “A total of 122 companies availed of this Fund in 2007. They cover a wide range of sectors including engineering, chemicals and seafood.
“It is clear there is strong demand from small and medium sized firms for investing in both technology and staff, and the Government has a role to play in supporting this.”
Established in 2005, the Productivity Improvement Fund promotes competitiveness in Irish business.
The 122 companies have committed to enhancing their innovative, competitive and production capabilities in the months ahead.
“As a result jobs will be protected in many communities into the future,” added Mr Martin.
