Dáil Éireann Debate, Tuesday - 16 May 2017
62. Deputy Fiona O'Loughlin asked the Minister for Jobs, Enterprise and Innovation if the local enterprise office grant and support scheme will receive more funding in 2018 in order to allow a greater number of small businesses and start-ups to avail of support; and if she will make a statement on the matter. [23036/17]
View answerIn Budget 2017, I secured an additional €4m in Capital funding for the LEOs, which brought the total Capital allocation for this year to €22.5m.
This funding is used to provide direct financial supports to eligible LEO clients, including Feasibility, Priming, and Business Development Grants. The funding is also used to deliver “soft” supports comprising training, mentoring and sign-posting/referral.
The additional allocation for 2017 enables the LEOs to assist microenterprises navigate challenges posed by Brexit, including a new Technical Assistance Grant, a LEO Innovation Investment Fund, as well as tailored training, mentoring and information provision.
In 2016 the LEOs provided grant assistance to almost 1,000 microenterprises; training to over 27,500 participants; and mentoring to almost 7,500 participants. In addition, 1,842 young entrepreneurs engaged with Ireland's Best Young Entrepreneur programme, which carries an investment fund of €2 million.
My aim is to build on that performance in 2017 and future years and my officials will be working with Enterprise Ireland and the LEOs to identify their funding requirements for next year as part of the 2018 Estimates cycle.
