Ó Ríordáin urges Minister to consider establishment of MABS for small businesses

Labour Party TD for Dublin North Central Aodhán Ó Ríordáin has urged the Minister for Jobs, Enterprise and Innovation to consider establishing a Financial and Budgeting Advice Bureau for small businesses.

This new bureau would be similar to the Money and Advice Bureau Service (MABS). However, this new initiative would primarily focus on providing much needed expertise to the many small and medium size enterprises struggling in these difficult economic times.

Deputy Ó Ríordáin stated: “I would urge the Minister to consider this worthwhile proposal which was discussed this morning at the Jobs, Social Protection and Education Committee. We are all aware of the difficulties many SMEs are currently experiencing and I believe a mentoring service to provide these businesses with financial and budgeting advice would be invaluable and do a lot to save much needed jobs. In addition, an independent service would present a viable alternative for business owners who have been forced to seek guidance from financial institutions.

“This initiative would build on the excellent work already being carried out by the County and City Enterprise Boards who provide much needed grants to the SME sector. However, we can build on this work by providing on going advice and assistance to the SME sector throughout the country.

“I would ask the Minister and his department to seriously consider this proposal.”