Support foreign entrepreneurs - SFA

The director of the Small Firms' Association (SFA) has called on the Government to do more to support foreign national entrepreneurs…

The director of the Small Firms' Association (SFA) has called on the Government to do more to support foreign national entrepreneurs.

SFA director Patricia Callan urged the Government to issue mainstream funding for training for foreign nationals who wish to start their own businesses here.

She said the growing population of young foreign nationals in the country represented an "untapped pool of entrepreneurial talent".

Ms Callan said the young age profile of many foreign nationals parallelled the age at which many people choose to start their own businesses. She added such individuals had already demonstrated an entrepreneurial spirit in coming to live and work in Ireland.

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The SFA also criticised the processes facing foreign nationals who wish to establish their own businesses.

The SFA's report stated that currently, business permission must be granted by the Minister for Justice, Equality and Law Reform.

Many foreign nationals are required to transfer assets of €300,000 to the State and to employ at least two people - a situation described by Ms Callan as "highly restrictive".