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Startup Funding

Dáil Éireann Debate, Tuesday - 6 November 2018

Tuesday, 6 November 2018

Questions (484)

Brendan Griffin

Question:

484. Deputy Brendan Griffin asked the Minister for Business, Enterprise and Innovation the start-up grant aids available to a business (details supplied) in County Kerry; and if she will make a statement on the matter. [45700/18]

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Written answers

Subject to certain criteria, the LEOs are the ‘first-stop-shop’ for advice and guidance, financial assistance and other supports for those starting or growing their business.

The LEOs provide a signposting service in relation to other relevant State supports available through agencies such as Revenue, the Department of Social Protection, Education and Training Boards, the Credit Review Office etc. The LEOs can also offer advice and guidance in areas such as Local Authority rates, Public Procurement and other regulations affecting business.

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. The LEOs do not provide direct grant-aid to areas such as retail, personal services, local professional services, construction/local building services, equestrian centres as it may give rise to the displacement of existing businesses.

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.

Anyone with a viable business proposal can also use the LEO to make an application to MicroFinance Ireland, which offers support in the form of loans of up to €25,000 to start-ups with viable business propositions that do not meet the conventional risk criteria applied by the banks. Successful applicants can avail of a more favorable interest rate from MFI if they make their application through the LEO.

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 . By answering the eight questions in the Online Tool, a small business will, in one location, be able to:

- find out which of the over 170 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;

- download all these filtered results into a document for their further use.

The Deputy should be aware that the centre may be eligible for capital funding by my colleague Minister Ring through the LEADER programme, depending on the type of operation being funded.

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