SMEagle

A few months ago I came up with this idea of helping small and medium sized enterprises in Ireland. Small business is under huge pressure because of the banking and fiscal crises. We need to help and encourage this sector as it is the back bone of our economy. I would welcome your thoughts and input into this idea.
Proposal

It is proposed to start a new SME Support Organization
One name I already have is SMEagle
To help foster:- Innovation/Investments/Inspiration/Identity ,in Small Business
Would be great if we could get the support of a number of corporate businesses like Bord Gais / Intel / Microsoft / Credit Union / Others
Funding:-  Every small business to pay €50-00 per employee / owner / manager /
(say an average of 2 employees including owners per enterprise) that would equal €100-00 per business.
With 270,000 businesses in this category this would create an immediate fund of €27,000,000-00. If the supporting group of corporate companies were to match this fund Euro for Euro we would then have a fund of €54,000,000-00. The money could be held in the Credit Union. Small Business could get a Credit for this investment from Revenue or Local Government.
10% of the funds would be held in a reserve fund annually. 10% of the funds would be given to a charity to help fund enterprise in Africa (Traidlinks)
80% of the fund would be used in the purchase of “Premium Shares” in say 1000 new “Innovative Enterprises/Start Up’s” by giving support of say €40,000-00 to 1000 new businesses every year.
This injection of capital and energy into new budding businesses will give a huge boost to the economy and on the law of averages will work out well for the existing SME’s as an investment tool.
Perhaps the Enterprise Boards and others like the Credit Union might be in a position to match this funding the new businesses Euro for Euro.
An independent adjudicating body would decide which businesses to support and invest in. This could be done with The Enterprise Boards / Credit Union / Corporate.
Members would get a small sticker or badge per year to acknowledge membership.
The 10% balance of the monies raised every year will be left in the Credit Union as security. This will help build up a formidable fund over a number of years that the SME’s could then decide on further investments or whatever.
Alot more thought and ground rules need to be developed before any move is made on this. Of course there will also be some administration expenses and so on.
Other Areas of Activity

• Representation on behalf of the SME Sector
• Innovation / Investments / Inspiration / Identity
• Networking
• Increased buying power as a Group in various sectors. Trades / Software / Food / Hospitality / Retail / Others
• Awareness of the challenges to the sector
• Training
• Help in dealing with the Banks / Lending Institutions
• Pensions
• Retirement
• Business transfers to family and /or others

The list is endless but I do feel the sector is Voiceless at the moment and any move in this direction while it may not be “perfect” at the moment would still be more than welcome. Perhaps we can join up with another budding idea / ideas and together make it even better.
Regards
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Emerald Quill