A report designed to highlight the importance of small businesses’ contribution to the Irish economy has been welcomed by The Small Firms Association (SFA).

The Small Business in Ireland 2008 Report published by the Central Statistics Office also outlines the position of the small business sector on the island.

Assistant SFA Director Avine McNally said the report illustrates how the small business community has been at the forefront of creating job and wealth in the country, and are "significant contributors to economic growth".

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The Assistant Director said: "For over a decade small businesses have been the main source of employment growth and a major vehicle for change.

"Public policy in regard to the small business sector in Ireland cannot be conducted without the benefit of comprehensive, up-to-date statistical information. The information contained within the report provides a range of indicators relevant to the small business sector.

"This will enable emerging trends to be monitored, key business issues to be identified which will assist in the development of coherent polices and future planning for the sector.

"Small businesses are both different and important. They are important because they create jobs. They are different because they are managed by people who take risks with their own money."

The Small Firms Association is the national organisation exclusively representing the needs of small enterprises in Ireland.

The SFA provides economic, commercial, employee relations and social affairs advice and assistance for almost 8,000 small businesses.

(PR)