“In terms of encouraging would be entrepreneurs one of the first things that need to be done is to introduce improved social insurance safety nets for those who choose self-employment in the event of their business venture not working out.

“But, as in all business start-ups, young people need access to business credit and Sinn Féin is proposing the establishment of a State Bank with business credit as one of its remits, similar to the functions of the ICC, which actually returned profits to the Exchequer before it was privatised.

“The education system also needs to play it part.  We need to see more focus on encouraging creativity, investigation and ‘thinking outside of the box’.

“Ultimately we need provide young people with the confidence and the practical support to enter into entrepreneurship.”

“In Tallaght in my own constituency there are currently 2,753 people under the age of 25 unemployed.  The Government is doing nothing for them.  The government is hoping they will emigrate and many have already gone.  This is not good enough.  If it wont intervene to create jobs, the very least they can do is enable and facilitate those young people who want to start new businesses to do so.

“Enabling the young unemployed to start up new businesses would be a huge boost to the local economy in Tallaght and other unemployment black-spots throughout the state. Implementing these proposals would keep many young skilled educated people in Ireland and also contribute towards rebuilding the economy.” ENDS

Sinn Féin proposals to make self employment a realistic option for young people:

* Introduce a €500 million Youth Jobs fund to be accessible to young entrepreneurs.
* In order to ensure a culture of innovation in the workforce, the secondary education system needs to put far more focus on encouraging creativity, investigation and ‘thinking outside of the box’.
* In order to encourage young people to become entrepreneurs, introduce improved social insurance safety nets for those who choose self-employment in the event of their business venture not working out.
* Establish dedicated business and science parks in each county, linked to universities and ITs, which would offer onsite enterprise agency and banking support and access to university partnerships. There are some parks that fit these criteria, but they must become the benchmark. Too often enterprise agencies see enterprise parks as merely a property relationship of landlord and tenant rather than as an economic entity with a much wider potential.
* Make running a business easier through the establishment either by the state or by co-operation between enterprises (for example on a regional basis) of a firm or co-op to provide tax preparation, payroll and legal services, accounting, preparation of business proposals for requests for capital and regulatory compliance services for a fee – thus reducing costs for small and start-up businesses and making it easier for them to focus on their product.
* Ensure that start-up enterprises can access credit. Establish a state bank that would have business credit as one of its remits, similar to the functions of the ICC, which actually returned profits to the Exchequer before it was privatised.
* Engage local business networks to help youth businesses by transferring their knowledge, experience and contacts. They can do this by mentoring, including them in their networks, bringing the youth businesses into their supply chains or providing pro-bono advice and training.
* Double the target for supporting High Potential Start-ups (HPSUs) from 200 to 400 by the end of 2010.
* Launch a national entrepreneurship programme with incubation centres around the country. Cost: approx €25 million.