Financial supports
Technical Assistance for Micro-Exporters (TAME) Grant
The TAME grant supports clients to explore and develop new export market opportunities, such as participation in international trade fairs and development of export-related marketing materials and websites. With a focus on helping companies to diversify, this scheme is a matched-funding opportunity with up to €2,500 available.
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Trading Online Voucher Scheme
An initiative under the Government’s National Digital Strategy, the Trading Online Voucher Scheme helps small businesses trade more online to boost their sales and reach new markets. This scheme is a matched-funding opportunity with up to €2,500 available, with training and further supports provided by Local Enterprise Offices. Funding can be used towards eligible costs such as digital marketing strategies, e-commerce websites or app development.
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Financial Assistance
For existing companies and potential start-ups that meet eligibility criteria (such as employing 10 or fewer people with the potential for growth and job creation), Local Enterprise Offices can also offer three types of financial supports to help manage Brexit responses:
- Priming Grants*
- Business Expansion Grants*
- Feasibility Study Grants*
*Further eligibility criteria apply.
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Microfinance Loans (through Microfinance Ireland)
Local Enterprise Offices can work with clients on their applications to Microfinance Ireland (MFI) for small business loans of between €2,000 and €25,000 (unsecured). Loans for commercially viable proposals can be used to help fund start-up costs, working capital or business expansion. By applying for an MFI small business loan through a Local Enterprise Office, clients can avail of a 1% reduction in the interest rate charged.
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Brexit Loan Scheme
The new Brexit Loan Scheme, which was announced in the 2018 budget, will provide affordable financing to businesses that are either currently impacted by Brexit or will be in the future. The Scheme, which will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders will make €300 million available to eligible businesses with up to 499 employees at an interest rate of 4% or less.
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Brexit: Start To Plan Voucher Scheme (through InterTradeIreland)
The InterTradeIreland Start To Plan Voucher Scheme offers SMEs advice and guidance to help navigate their way through Brexit matters.
This support can help businesses get advice on specific issues, such as the movement of labour, goods, services, customs, logistics and financial issues such as VAT and currency management.
Find out how to apply here
Brexit Mentoring
Through the Local Enterprise Offices small companies can get one-to-one mentoring on issues affecting them around Brexit. Mentors can evaluate the risk to your small business and outline the next steps along with key supports available to your company to ensure you are best prepared for Brexit.
Future Growth Loan Scheme
The Future Growth Loan Scheme makes up to €300 million of loans available with a term of 8-10 years. This scheme will be available to eligible Irish businesses and the primary agriculture and seafood sectors to support strategic long-term investment in a post Brexit environment. Finance provided under the scheme is competitively priced and requires no security for loans up to €500,000. Loans must be used for investment in tangible or intangible assets for the purpose of process and organisational innovation, or investment in assets on agricultural holdings linked to primary agricultural production.
https://sbci.gov.ie/schemes/future-growth-loan-scheme
Brexit Implementation Voucher
If your small business is navigating its way through Brexit and planning to implement change then you may be able to avail of the Brexit Implementation Voucher. As part of the voucher InterTradeIreland will pay 50% of the total cost of support of £5,000/€5625. For more information and eligibility criteria see here -https://intertradeireland.com/brexit/brexit-funding/brexit-implementation-voucher/
INNOVATION SUPPORTS
Agile Innovation Fund
The Agile Innovation Fund has been developed by Enterprise Ireland to support product, service and process innovation to build competitive advantage. The key benefit of this support is that it allows for a simple application process and delivers a faster response time from application to approval.
The new Agile Innovation Fund is also open to eligible Local Enterprise Office clients and it allows companies to access up to 50% in support towards innovation projects with a total cost of up to €300,000.
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Innovation Vouchers
The innovation vouchers scheme, which is open to small and medium sized companies registered in the Republic of Ireland, are worth €5,000 are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider. For more information and eligibility criteria see here -
https://www.enterprise-ireland.com/en/Research-Innovation/Companies/Collaborate-with-companies-research-institutes/Innovation-Voucher.shortcut.html
Innovation Partnership Programme
The Innovation Partnership Programme can provide up to 80% of the cost of research work to develop new and improved products, processes or services, or generate new knowledge and know-how. The company must be a registered client of one of the following state development agencies: Enterprise Ireland, IDA Ireland, Local Enterprise Office, Údarás na Gaeltachta. For more information and eligibility criteria see here -
https://www.enterprise-ireland.com/en/funding-supports/company/esetablish-sme-funding/innovation-partnerships.html
