Fine Gael candidate for Ireland South, Deirdre Clune, has welcomed the announcement by Minister for Enterprise, Jobs and Innovation, Richard Bruton TD, that he will launch a €75 million fund to support established Irish companies to develop their export markets.
The BDO Development Capital Fund, which will be managed by Development Capital, a 100% subsidiary of BDO, will invest development and growth capital in established, mid-sized and profitable companies to support and accelerate their export growth plans.
“As a person with a strong connection to business in Cork and beyond, I understand the value that Irish companies can bring to the table in terms of job creation. We must not just depend on multinationals but must also continue to support small and medium sized Irish business that will create sustainable jobs.
“Irish entrepreneurs have a long and established history of creating sustainable jobs and Fine Gael is the party that has always supported Irish entrepreneurs and SMEs. We support our SMEs because we understand implicitly that home grown businesses and the jobs they create are vital to our economy.
“The BDO Development Capital Fund will target Irish companies with high potential for jobs and export growth. Typically companies will be mid-sized, with high-growth potential and annual turnover of €15million to €50million. Based on the current growth opportunities it is likely that the majority of investments will come from the agri-food; life sciences and clean tech; ICT/software and industrial/engineering sectors.
“Food, technology and engineering are all growth areas for small and medium Irish business and we need to ensure that funding is available to help. I would like to welcome the announcement by Minister Bruton and would call on him to continue to offer innovative supports to small and medium sized Irish business.”