The newly-formed Government has pledged its support for Irish SMEs, with changes to the VAT rate for the retail and hospitality sectors among the proposals.
Hairdressers are included in the hospitality sector, which has been campaigning for a return to the 9% VAT rate from the current rate of 13.5%.
The measures were revealed in the Programme for Government 2025, and will be implemented as part of the next Budget.
The Government said it also plans to establish a new Small Business Unit to back SMEs, ensuring they have support and a dedicated focus in Government; set up a Cost of Business Advisory Forum, which will include a review of all business taxes and costs and ensure businesses are consulted before new legislation or policies are introduced that impact SMEs.
In addition, it intends to conduct a comprehensive review to assess the cost structures for SME and family-owned businesses to identify areas where costs can be reduced; ensure a skilled labour force by providing practical support for on-the-job training and apprenticeship schemes; and assist businesses in adopting sustainable practices and digital technologies.
