Ahead of Tuesday’s declaration of the 2025 Budget by the Finance Minister, Jack Chambers, and the Minister for Public Expenditure, Paschal Donohoe, a proprietress of a small business voiced her hopes for the announcement. Eimear Killian, joint proprietor of Builín Blasta Café & Bakery situated in Spiddal, desires a VAT reduction in the hospitality sector from 13.5% to 9% included in the 2025 budget.
As per Ms. Killian, a reduction in VAT to 9% would result in an additional 4.5% that small enterprises wouldn’t have to grapple with on a monthly basis. This would “ease the strain on your cashflow”, as VAT is calculated directly from the net profit, which small firms must raise every month.
Ultimately, business owners are in it for the profit, she emphasized, arguing there is no sense in pointless hustle. Expenses like rising water charges and energy tariffs all contribute to the operation costs of a small business, she added.
Affirmation of the commencement date for automatic pension enrolments is embraced by representatives of workers and business.
For the 2025 Budget, a small business proprietor stated, “There’s no point in being busy fools.”
Although Ms Killian advocates for fair pay for staff, budget proposals such as extending sick leave from five to seven days or hiking PRSI could lead to extra expenses for her enterprise in the coming year. According to her, “All these minute elements accumulate, hence, it would be better if things were slightly more distributed.”
If there are no provisions for small firms in the budget, Ms Killian warned of potential price hikes, the closure of small, independent businesses, and likely job cuts.
Moreover, she highlighted that such a predicament would adversely affect the restaurant suppliers since they would lose potential markets for their goods.