The start of this decade has not been easy for businesses, particularly for SMEs. In the last four years, they have been affected by the COVID-19 pandemic, the economic fallout of the war in Ukraine, supply-chain constraints, a tight employment market, soaring costs of materials and rising inflation. At a time of ongoing financial pressures, additional administrative burdens could prove too much for many businesses to bear.
A position paper in the Institute’s Next Financial Year series, Reducing Red Tape, seeks to alleviate this pressure with proposals for simplifying administration for businesses across Ireland, including easing the reporting burden, tax simplification, codifying virtual meetings, government supports and funding, and manageable pensions reform.
We ask the Government to strike a fair balance between the necessary administrative work of running a business and the demands of trading at such a challenging time.