The Irish Software Association (ISA) has welcomed Mr McCreevy's decision to retain and extend the Business Expansion Scheme (BES) and Seed Capital Scheme.
In yesterday's Budget, Mr McCreevy said the schemes would be extended for a further two years beyond December 31st, 2001.
He also raised the limit on investment in any one firm under the BES to €750,000 (£591,000) from €317,500. The increased limit will also apply to the seed capital scheme, which permits employees who leave employment to invest in certain new businesses and take up a job in that business to claim a refund of tax for the previous five years.
"This is a boost to enterprise and entrepreneurship," the ISA chairman, Mr Billy Huggard, said. "This refreshes the parts of the market that venture capitalists seldom reach, high-risk start-ups."
However, the association was critical of the Budget's failure to restore the cap on employer PRSI contributions.
