Ireland’s enterprise, tourism and employment sectors are set for a major funding boost after Budget 2027 allocated €1.3485 billion to support business growth, innovation and high-quality jobs. The announcement from the Department of Enterprise, Tourism and Employment places particular emphasis on start-ups, artificial intelligence, regional development and tourism.
The package includes €638.5 million in current expenditure and €710 million in capital funding. According to the department, the investment is designed to help Irish businesses reduce costs, adopt new technologies, expand internationally and remain competitive during a period of global economic change.
Budget 2027 backs Irish businesses and start-ups
A central feature of Budget 2027 is the creation of Start Up Ireland, supported by €3 million in funding. The initiative aims to help entrepreneurs access finance, expertise and practical supports, with an ambition to support 1,000 new start-ups.
Businesses will also benefit from the €500 million Growth and Sustainability Loan Scheme. Eligible companies will be able to seek long-term loans of up to €500,000 on an unsecured basis, in partnership with the European Investment Bank Group. A further €20 million commitment is planned for 2028.
Local Enterprise Offices will receive an additional €4.5 million, including support for energy-efficiency upgrades and modernisation. The measures are intended to help small businesses manage operating costs while improving productivity.
Support for innovation and future industries
Budget 2027 provides additional resources for research, technology and emerging industries, including:
- €7.5 million for technology centres, including Irish Manufacturing Research and CeADAR.
- €6.5 million for the Disruptive Technologies Innovation Fund.
- €13 million to support Irish companies engaging with the European Space Agency.
- €2.3 million for the National AI Office of Ireland, bringing its total budget to €3.8 million.
The National AI Office will support implementation of the EU AI Act, an AI Regulatory Sandbox and expanded national AI literacy. The government also plans to strengthen research and development incentives to help businesses bring new products and services to market.
Tourism and regional development receive new funding
Fáilte Ireland will receive €6.65 million for tourism product and destination development in the regions. Tourism Ireland is also being allocated €2.5 million for marketing in new and high-growth international markets.
The funding is intended to increase visitor numbers, grow tourism revenue and support local economies across Ireland. IDA Ireland will receive additional funding for Next Generation Strategic Sites, while InterTradeIreland will receive more than €650,000 to help small and medium-sized businesses expand across the island.
Employment measures and competitiveness reforms
Budget 2027 includes a 79-cent increase in the National Minimum Wage and changes to employer PRSI thresholds. The higher-rate Employer PRSI threshold will rise from €552 to €600 per week, offering additional certainty to employers while supporting wage growth.
A €1.3 billion personal income tax package includes increases to the standard-rate cut-off point and personal, PAYE and earned-income tax credits. The government says these measures are intended to support workers while helping employers manage labour costs.
Tax and competitiveness measures will also extend key supports such as the Employment Investment Incentive, Start-Up Relief for Entrepreneurs, the Start-Up Capital Incentive and Angel Investor Relief.
What Budget 2027 means for Ireland’s economy
The overall strategy combines direct funding with regulatory and tax measures designed to encourage investment. It also supports stronger business standards, consumer protection, employment rights and innovation capacity.
For entrepreneurs, the package offers new access points for funding and advice. For established companies, loan finance, research supports and international development measures could help unlock expansion. Tourism businesses may benefit from new destination investment and overseas marketing.
Article/Image Courtesy: gov.ie
Key takeaway: Budget 2027 places enterprise, tourism, employment and trusted AI at the centre of Ireland’s economic plans, with funding aimed at helping businesses start, scale and create jobs nationwide.
