Scale Ireland Warns of €1.1 Billion Funding Gap for Local Businesses
A new report has highlighted a significant financial challenge for Irish businesses. According to the advocacy group Scale Ireland, the country is currently facing a €1.1 billion funding gap that prevents local companies from growing and expanding successfully.
Scale Ireland is now calling on the government to take urgent action in the upcoming Budget 2027. The group argues that without specific policy changes, many Irish startups will struggle to compete on a global scale. They believe that providing better financial support is essential for the future of the national economy.
One of the main recommendations from the group is to reform pension investments. By allowing pension funds to invest more easily in Irish companies, the government could help bridge the funding gap. Additionally, Scale Ireland has suggested changes to Capital Gains Tax (CGT) to encourage more private investment in local enterprises.
Finally, the group is asking for improvements to public procurement processes. They believe that if it were easier for smaller Irish companies to win government contracts, these businesses would have more stability and resources to scale up. The government is now under pressure to consider these proposals as they prepare their long-term economic plans.