Dáil Éireann Debate, Tuesday - 27 November 2018
323. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation the number of applicants and participants in all Brexit schemes and supports provided by her Department or agencies under her remit; the amount allocated and expended to each such scheme in each year since being established in tabular form. [48903/18]
View answer327. Deputy Lisa Chambers asked the Minister for Business, Enterprise and Innovation the take up of all Brexit supports since they opened and that fall under the remit of her Department in tabular form; and if she will make a statement on the matter. [48940/18]
View answerI propose to take Questions Nos. 323 and 327 together.
My Department and its agencies are providing extensive supports to ensure that businesses are prepared for Brexit. These supports aim to assist businesses in identifying key risk areas and the practical preparatory actions to be taken over the coming months.
In addition to direct supports to firms, I and my Department have been developing a number of schemes to mitigate against the potential effects of Brexit. In late November 2017 a Rescue and Restructuring (R&R) Scheme was approved by the EU Commission. This scheme has been put in place as it is considered prudent to have contingency measures in place so that we can respond swiftly to changing circumstances as necessary.
The Brexit Loan Scheme was launched in April 2018 and provides affordable working capital financing to eligible businesses that are either currently impacted by Brexit or will be in the future, to help them innovate, change or adapt to mitigate their Brexit challenge.
In May 2018, the Rescue and Restructuring scheme was extended to include temporary restructuring aid for enterprises experiencing acute liquidity needs. The aid is granted in the form of loans repayable over a period of 18 months. Together with the Brexit Loan Scheme, this temporary restructuring aid will provide valuable stabilisation to businesses as they respond to the immediate and long-term impacts of the UK’s decision to leave the EU.
The Future Growth Loan Scheme was announced in Budget 2019. The scheme will be available to eligible Irish businesses, including those in the primary agriculture and seafood sectors, to support strategic, long-term investment in a post-Brexit environment. It will provide low cost loans for terms of between 8-10 years, which is not readily available on the market. It is expected that this scheme will be operational in Q1 2019.
Local Enterprise Office funding has been increased and this increase is being used to assist micro-enterprises in becoming more competitive and better able to cope with the changing environment in which they are operating. The suite of LEO Brexit supports includes tailored mentoring to address Brexit-related business challenges and targeted training on specific Brexit challenges.
Enterprise Ireland has established a Prepare for Brexit online portal and communications campaign, as well as an online "Brexit SME Scorecard" to help Irish businesses self-assess their exposure to Brexit and a "Be Prepared Grant" to support SME clients in planning to mitigate risks arising from Brexit. It has also launched a new Eurozone Strategy to help SMEs broaden their export footprint beyond the UK.
InterTrade Ireland's Brexit advisory service was established in May 2017 to provide a focal point for SMEs working to navigate the changes in cross-Border trading relationships brought about by Brexit negotiations.
As part of awareness-raising activities, EI has rolled out regional Brexit Advisory clinics throughout the year. My Department and its agencies have also participated in the Getting Ireland Brexit Ready roadshow to inform businesses of supports available to them to prepare for Brexit. I will continue to ensure we provide the supports and services best suited to the needs of enterprise over the coming months.
The information is set out in the following table:
|
Scheme |
Uptake (as of 19 November 2018) |
Allocation/Expenditure by year up to 19 November 2018 |
|
Brexit Loan Scheme |
307 applications received, 270 approved by SBCI, 54 Loans progressed to sanction at bank level to a value of €12.51 million (23 November 2018) |
€23 million exchequer funding has been used to leverage a fund of up to €300 million: €14 million from DBEI and €9 million from the Department of Agriculture, Food and the Marine. This Exchequer funding was allocated to the SBCI at the end of 2017. |
|
Enterprise Ireland (EI) Brexit Scorecard - online platform for Irish companies to self-assess their exposure to Brexit |
3,332 Brexit Scorecards have been completed, which includes 502 LEOs clients |
2017 Expenditure: €25,568 2018 Expenditure: €11,261
|
|
EI Be Prepared Grant |
148 Be Prepared Grants have been approved |
2017 Expenditure: €10,000 2018 Expenditure: €154,573 |
|
EI Market Discovery Fund - A support to EI clients to research new markets |
166 projects have been approved under this initiative |
Market Discovery fund was launched in 2018 2018 Expenditure: €165,470 |
|
EI Agile Innovation Fund - Gives rapid fast-track access to innovation funding |
33 Agile Innovation projects have been approved |
Agile Innovation Fund was launched in 2018 2018 Expenditure: €263,681 |
|
EI Brexit Advisory Clinics |
11 events been run with approx. 915 in attendance |
2017 Expenditure: €57,797 2018 Expenditure: €144,567 |
|
EI Brexit ‘Act On Programme’ – A support funding the engagement of a consultant to devise report with recommendations to help clients address weaknesses and improve resilience |
130 ‘Act on’ Plans have been completed |
2018 Expenditure: €258,000 |
|
EI Strategic Consultancy Grant – A grant to assist EI clients to hire a strategic consultant for a set period |
1,045 Strategic Consultancy Grants have been approved |
2016 Expenditure: €278,137 2017 Expenditure: €482,617 2018 Expenditure: €444,368 |
|
Local Enterprise Office (LEO) Mentoring |
263 mentoring participants solely focused on Brexit |
Not available |
|
LEO Technical Assistance Grant for Micro Export - an incentive for LEO clients to explore and develop new market opportunities |
293 clients were approved assistance under the Technical Assistance Grant |
2017 Allocation: €785,000 2017 Expenditure: €188,829 2018 Allocation: €800,000 2018 Expenditure: €365,774 up to 30/09/18 |
|
LEO LEAN4Micro – The Lean4Micro offer was developed in collaboration between the EI Lean department and the LEOs to tailor the EI Lean offer for LEO micro enterprise clients |
192 LEO clients have participated in the programme |
2017 Allocation: €882,500 2017 Expenditure: €529,922 2018 Allocation: €852,620 2018 Expenditure: €518,411 up to 30/09/18 |
|
LEO Brexit Seminars/Events |
3,925 Participants at the Brexit Information events |
2017 Allocation: €153,500 2017 Expenditure: €85,509 2018 Allocation: €177,800 2018 Expenditure: €57,855 up to 30/09/18 |
|
InterTradeIreland Brexit Advisory Service |
2,350 SMEs have directly engaged with the Brexit Advisory Service |
2017 Expenditure: €342,000 2018 Expenditure €834,000 up to 31/10/2018 |
|
InterTradeIreland (ITI) Brexit Start to Plan Vouchers |
There have been 619 applications, with 514 approved and 105 pending. |
2017 Expenditure: €7,409 2018 Expenditure: €333,654 |
|
Pilot Online Retail Scheme administered by Enterprise Ireland |
Total fund of €1.25m. The first call opened on 24 October. This call will close on 5 December at 3pm. |
Not available |
