Niamh Smyth
Question:297. Deputy Niamh Smyth asked the Minister for Business, Enterprise and Innovation if she will review funding mechanisms for a person (details supplied); and if she will make a statement on the matter. [31886/18]
View answerThursday, 12 July 2018
Questions (297)
Written answers
The Local Enterprise Office (LEO) Cavan is the ‘first-stop-shop’ for advice and guidance, financial assistance and other supports for anyone who wishes to start or grow their business locally. The LEOs provide a ‘signposting’ service in relation to all relevant State supports available through agencies such as Revenue, the Department of Social Protection, and Microfinance Ireland.
The LEOs can offer direct grant aid to microenterprises (10 employees or fewer) in the manufacturing and internationally traded services sectors 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: 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. In addition, there is a Technical Assistance Grant available for eligible micro-exporter applicants who are seeking to explore alternative markets for their product or service.
For anyone interested in starting or growing a business, the LEOs may be able to offer ‘soft’ support in the form of training (e.g. a Start Your Own Business course); a mentor to work with the business proposer; or targeted programmes such as Lean for Micro (to help boost business productivity and competitiveness).
Micro-enterprises may also avail of the Trading Online Voucher Scheme (TOVS) from the LEOs. The Scheme offers the opportunity for businesses to develop their website or digital marketing strategy by availing of vouchers of up to €2,500 or 50% of eligible expenditure.
I should also draw your attention to the ‘Supporting SMEs’ Online Tool, which is a cross governmental initiative to help start-ups navigate the range of Government business supports for which they could be eligible. The tool is available at www.supportingsmes.ie.
As you will be aware as Minister I have no direct role in the decision-making process in the LEOs. All applications for financial assistance are evaluated by the local Evaluations and Approvals Committee comprising membership of the Head of the LEO, the Chief Executive of the Local Authority and Local Business people.
I understand that the business in question is a client of LEO Cavan for a number of years, and has received a variety of supports from them. As the “first-stop-shop” for advice and guidance on business development, I would suggest that he continues to liaise with LEO Cavan in relation to other sources of funding, such as MicroFinance Ireland, or private investments, etc. For further information on LEO supports see https://www.localenterprise.ie/cavan.