Dáil Éireann Debate, Tuesday - 22 February 2022
90. Deputy Michael Collins asked the Tánaiste and Minister for Enterprise, Trade and Employment the funding that is available for a physical therapy, health and well-being start-up business; if low-interest loans or grants are available for this type of business; and if he will make a statement on the matter. [9603/22]
View answerAnyone considering starting, expanding or pivoting their business should in the first instance contact their Local Enterprise Office which acts as a ‘first stop shop’ for all available Government business supports.
Businesses operating in the area of health and wellbeing, including those involved in physical therapy, are largely excluded from direct grant-aid support as the funding of such businesses may give rise to the displacement of existing businesses.
Nevertheless, the Local Enterprise Offices do provide a wide range of high-quality business and management development programmes that are tailored to meet specific business requirements. Whether it is starting a business or growing a business there is something suitable for anyone wishing to start or advance their entrepreneurial journey.
In particular, I would encourage the person to enquire about the Start Your Own Business Programme.
The objective is to assist entrepreneurs in assessing their business idea, its viability and helps them decide if they should proceed or take a step back. The programme covers topics such as starting up/getting started, identifying, understanding, and researching your target market, developing a business plan amongst other vital areas of interest to a new business.
I would also suggest seeking the advice of a LEO Business Mentor; the Mentor programme is open to both new and existing businesses located within the Local Enterprise Office region and is designed to match up the knowledge, skills, insights and entrepreneurial capability of experienced business practitioners with small business owner/ managers who need practical and strategic one to one advice and guidance.
The mentor contributes independent, informed observation and advice to aid decision making. Mentors can also advise on finance options available to entrepreneurs and can assist with applications and referrals to Micro-Finance Ireland, which provides vital support to eligible microenterprises by lending to businesses that cannot obtain loans from other commercial lenders and who do not meet the conventional risk criteria applied by commercial lenders. It offers loan funding, including Start-up Loans, from €5,000 to €25,000.
