Dáil Éireann Debate, Thursday - 9 December 2021
177. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the incentives currently available for small start-up enterprises; and if he will make a statement on the matter. [61066/21]
View answerMy Department, through Enterprise Ireland and the Local Enterprise Offices, offers extensive assistance to new start-ups. In the first instance the Local Enterprise Offices act as a ‘first stop shop’ providing advice and guidance, financial assistance, and other supports to those wishing to start or grow their own business. The Local Enterprise Offices provide a ‘signposting’ service for all government supports available to the SME sector and can provide information and referrals to other relevant bodies under agreed protocols including Revenue, Micro Finance Ireland, Fáilte Ireland, LEADER, and Enterprise Ireland.
The Local Enterprise Office network 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 Local Enterprise Office can provide financial assistance within four main categories, Feasibility grants, Priming grants, Business Development grants and Technical Assistance (TAME) grants. However, it should be noted that the Local Enterprise Offices do not provide direct grant-aid to areas such as retail, personal services, local professional services, construction/local building services, as it may give rise to the displacement of existing businesses.
The Local Enterprise Offices also provide a wide range of high-quality business training and capability supports tailored to meet specific business requirements of anyone exploring self-employment as an option or for those who are currently operating a business.
The Start Your Own Business programme guides clients through the various aspects of business and business planning. The objective is to assist clients in critically assessing their business idea, its viability and to decide if they should proceed or take a step back. This programme covers a wide variety of topics designed to equip entrepreneurs to tackle the obstacles and opportunities presented in the current business environment.
The Mentor Programme is a service offered free of charge by the Local Enterprise Offices that allows business owners to work with an experienced mentor to identify solutions to areas of exposure within their business, develop strategies that are more robust, address issues and maximise potential opportunities. Business Mentors can assist business owners with the issue of access to finance for start-ups and can help in the completion of business cases and application forms.
Scaling and growing the export and start-up base continues to be a key priority for Enterprise Ireland. Enterprise Ireland helps entrepreneurs and start-up companies with business planning, mentoring and development advice, feasibility funding and finance. Enterprise Ireland supports new enterprises through the High Potential Start Up (HPSU) division. If a start-up business has the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and €1m in export sales within 3 years of starting up, they may qualify for assistance from Enterprise Ireland as a High Potential Start-up (HPSU). The Innovative HPSU Fund allows Enterprise Ireland to offer equity investment to HPSU clients, on a co-funded basis to support the implementation of a company’s business plans. First time and follow-on equity investments in HPSUs are supported under this offer.
