Speaking today (Tuesday 1st June 1999) at an Enterprise Ireland seminar on the How to ... Finance Your Business Guide the Menlo Park Hotel in Galway Minister Treacy said "Ireland's enterprise culture is now widely recognised and reflects the continuing development of all sectors of the economy. The small business sector is rapidly developing in terms of competence and capability. There is still however a knowledge gap surrounding the process of funding a business and the How to ... Finance Your Business Guide addresses this. I believe that this publication will enhance management capabilities and lead to new business growth and stability."

Minister Treacy continued "The purpose this Guide is to encourage entrepreneurs to focus on the proper funding of a business especially in the expansion phase. It is to inform business owners of issues relating to determining the amount of funding required, the various type and source of funding available and advises on the balance between loan and equity funding. It is I believe, an extremely comprehensive management tool."

The How to ... Finance your Business publication is the result of partnership between the European Commission, the Department of Enterprise, Trade and Employment and Pricewaterhousecoopers. It is specially aimed at the small business sector and seeks to address the knowledge gap surrounding the process of funding a business. The Guide was launched by the Tánaiste earlier this year. This is the second publication towards bridging the information deficit that the Department, with the support of the European Commission, has commissioned. The "Starting Your Own Business" Guide which has been extremely well received, with over 14,000 copies in circulation was launched in 1998.

Minister Treacy said "The rapidly changing business environment has made the addressing of the knowledge gap surrounding the process of funding a business even more crucial. Markets are opening up and technology is changing rapidly leading to a revision of the way in which companies need to look at the funding of the fixed asset and working capital aspect Change is inevitable. Some changes are forced on us from outside; others we will decide to make ourselves. How individuals adapt to these changes will play a large part in deciding how business survives in the year 2000 and beyond."

"Small businesses have a critical role to play in growing jobs - over 1 million new enterprises are established in the European Union each year. A very encouraging trend has been the level at which SME's are increasingly investing in a more comprehensive way in developing their business capability and potential. My Department has a specific role in fostering and encouraging the development of small business and the Government will continue to bring forward measures to maintain and enhance this development," Minister Treacy concluded.

The Guide is available from the Government Publications Sales Office, Sun Alliance House, Molesworth Street, Dublin 2 or through the County Enterprise Boards priced £10.