Dáil Éireann Debate, Wednesday - 15 February 2017
288. Deputy Bernard J. Durkan asked the Minister for Jobs, Enterprise and Innovation the funding and financial supports that are available for a small business with fewer than ten employees; and if she will make a statement on the matter. [7481/17]
View answerThe Local Enterprise Offices (LEOs) are the first-stop-shop for providing advice and guidance, financial assistance and other supports to those wishing to start or grow their own business.
The LEOs can offer direct grant aid to microenterprises (10 employees or fewer) in the manufacturing and internationally traded services sector which, over time, have the potential to develop into strong export entities. Subject to certain eligibility criteria, the LEOs can provide financial assistance within three main categories, i.e., Feasibility Grants (investigating the potential of a business idea), Priming Grants (to part-fund a start-up) and Business Development grants for existing businesses that want to expand. Soft supports in the form of training and mentoring can also be provided to anyone wishing to expand their business.
Micro enterprises can also avail of the Trading Online Voucher Scheme, which is funded by the Department of Communications, Climate Action and Environment, from the LEOs. The Scheme is designed to assist micro businesses to establish an on-line trading presence by offering training and advice, along with financial assistance of up to €2,500. Details are available on the LEO website at www.localenterprise.ie.
In addition, any business can use the LEOs to help them to access finance from Micro Finance Ireland (MFI), which offers loans of up to €25,000 to start-up, newly established or growing microenterprises (employing less than 10 people) with viable business propositions that do not meet the conventional risk criteria applied by the banks. Applications for the Microfinance Fund should be channelled through the local LEO. Further information is also available on the LEO website.
The LEOs also provide a signposting service in relation to all relevant state supports available such as Enterprise Ireland for High Potential Start-Ups; Revenue; the Department of Social Protection; and the Credit Review Office.
Businesses can also access the ‘Supporting SMEs’ online search tool. By answering eight questions, a small business will be able to: find out which of the over 80 Government business supports from 27 different Government Departments, Agencies and Initiatives are available to them; obtain information on the range of Government supports for accessing credit; identify their nearest Local Enterprise Office where they can discuss the outcomes of the guide further; and download all these filtered results into a document for their further use.
The ‘Supporting SMEs’ Online Tool is available at: www.actionplanforjobs.ie.
