Bizstartup.ie - NewsRevised financial supports for start-ups

The new financial supports available from the County & City Enterprise Boards are as follows:

Priming Grants

These are for sole traders, partnerships, community or limited companies that fulfill the following criteria:

• Located within the CEB’s geographic area
• A business which on growth may or may not fit the Enterprise Ireland portfolio
• A business employing up to 10 employees
• A manufacturing or internationally-traded services business
• A domestically-traded service business with the potential to trade internationally
• A domestically traded services being established by a female returning to the workforce or unemployed persons where the potential for deadweight and displacement does not exist.

Eligible clients may be awarded a Priming Grant within the first 18 months of setting up the business. The maximum Priming Grant payable shall be 50pc of the investment or €150,000 whichever is the lesser. Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally.

In all other cases, the maximum grant shall be 50pc of the investment or €80,000 whichever is the lesser. Subject to the 50pc limit, a maximum grant of €15,000 per full-time job created shall apply in respect of any employment support granted.

Business Expansion Grants
These may be awarded to businesses:

• Located within the CEB’s geographic area
• A business, which, on growth, may or may not have the capacity to fit the Enterprise Ireland portfolio
• A business employing up to 10 employees
• A manufacturing or internationally-traded service business
• A domestically-traded service business with the potential to trade internationally.

The maximum Business Expansion Grant payable shall be 50pc of the investment or €150,000, whichever is the lesser. Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally. In all other cases, the maximum grant shall be 50pc of the investment or €80,000 whichever is the lesser. Subject to the 50pc limit, a maximum grant of €15,000 per full time job created shall apply in respect of any employment support granted. A business that had availed of a Priming Grant will be ineligible to apply for a Business Expansion grant until 18 months after approval/drawdown date of Priming Grant, whichever is the later.

Feasibility Grants
The maximum Feasibility/Innovation Grant payable for the S&E Region shall be 50pc of the investment or €20,000, whichever is the lesser. The maximum Feasibility/Innovation Grant payable for the BMW Region shall be 60pc of the investment or €20,000, whichever is the lesser.