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Enterprise Ireland Grants for business growth

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In addition to the schemes offered by Enterprise Ireland (EI) to help Irish businesses get funding through COVID 19 (detailed here), EI are also offering grants to assist with the future growth of Irish businesses. Details of such grants are outlined below.

1. STRATEGIC CONSULTANCY GRANT

Purpose of the Grant:

To help a business grow by providing a Strategic Consultant to act as coach, mentor, facilitator, analyst, negotiator and/or operator for the company. The grant is not to be used to subsidize regular operations costs, such as PR, marketing or financial costs, and should only be used to implement a new strategic initiative or review the business’ functions.

How it helps:

  • It covers up to 50% the cost of a Strategic Consultant, up to a maximum of €35,0000.
  • This is to assist in the development and/or implementation of strategic initiatives in the SME.

Who can apply?

  • SME’s in manufacturing or internationally traded services employing between 10 – 49 people
  • Companies who have previously applied for support from An Bord Bia or An Bord Iascaigh Mhara but were deemed ineligible.

Full details of the criteria are available here

2. LEAN BUSINESS CONTINUITY VOUCHER

How it helps:

  • It provides access in training or advisory services support related to the continued operation of a company’s business during pandemic.
  • Management advice or training of management staff up to €2,500.
  • It’s expected to be delivered online.

Who can apply?

Examples of the type of advisory or training services offered can be seen here

3. KEY MANAGER/PART TIME KEY MANAGER SUPPORT

Purpose of the Grant:

  • Recruiting an individual to help contribute to the significant growth of the company by making measurable improvements in company productivity and/or changes in its output to meet defined market requirements.

How it helps:

  • Up to a maximum of €100,000 per annum (excluding employer’s PRSI, bonuses or commission).

Who can apply?

  • Small and medium clients of EI who employ 10 or more people
  • Companies that have been trading for at least 2 years

All applications will be commercially assessed by EI.

For more information on the criteria and the eligible costs click here.

4. COVID 19 ONLINE RETAIL SCHEME

Purpose of the Scheme:

To enable Irish retailers to enhance digital capability and develop more competitive online offer- increase customer base and build more in domestic and global markets.

How it helps:

  • Will get up to 80% of project costs up to €40,000.
  • Typicaly it will involve research, consultancy costs for strategy development, implementation and training.

Who can apply?

  • Irish owned enterprises who had 10 or more employees on 29 February 2020.
  • Companies must have an existing web presence (website or social media) who have a retail outlet where it derives most of the revenue from.

Who cannot apply?

Given the purpose of the scheme is quite specific, there is an extensive list of companies who are not eligible to apply; such as franchisees of retailers who have access to the franchisor’s online support. The list outlining companies who are not eligible to apply is set out here.

EI is also offering the following supports to assist entrepreneurs in developing their own leadership and management skills:

  • Mentor Grant– matches new entrepreneurs with an experienced business owner to provide advice, guidance and support. EI provides grant support to qualifying companies towards the cost of a mentor for up to 10 sessions (to a total of €1,750). This is now offered virtually.
  • eLearn- EI has developed an online learning platform where Irish SMEs can access content specially designed for them. It is hoped this will assist with any challenges Irish businesses may face in growing their businesses internationally.

If you have any queries about the above schemes, or any other business queries relating to Covid-19, please contact Solicitor, Katie Oakes at [email protected] or 01 644 5800.