Dáil Éireann Debate, Thursday - 28 February 2019
121. Deputy Niamh Smyth asked the Minister for Business, Enterprise and Innovation the grants available for capital purposes (details supplied) in view of Brexit; and if she will make a statement on the matter. [10099/19]
Amharc ar fhreagraBrexit represents a significant challenge for businesses in Ireland, which cannot be underestimated. That’s why Government, working with industry bodies and business groups, started developing supports for businesses from the time when Brexit first became a possibility. Government’s priority is to ensure that businesses around the country can manage risks and avail of any opportunities. This has informed the range of advisory and financial supports that are in place.
The €300 million Brexit Loan Scheme launched last year is open to eligible businesses of up to 499 employees which have been demonstrably impacted by Brexit, or which will be in the future. The Brexit Loan Scheme provides working capital funding to businesses to innovate, change or adapt in response to Brexit-related challenges. Loan amounts range from €25,000 up to €1.5 million, for terms of up to three years and at a maximum interest rate of 4%. Loans of up to €500,000 are available unsecured. This may be useful for businesses whose cashflow has already been impacted by Brexit.
Beyond this, my Department and its agencies are fully engaged in preparing Irish businesses for Brexit and have participated in the Government of Ireland’s series of Getting Ireland Brexit Ready events in Cork, Galway, Monaghan, Dublin, Limerick and Donegal. As part of awareness-raising activities, Enterprise Ireland continues to roll out regional Brexit Advisory clinics. To date, these clinics have been held in Letterkenny, Tralee, Portlaoise, Claremorris, Cootehill, Charleville, Dublin, Galway, Dundalk, Waterford and Limerick. Further events are planned in Galway, Cork, Letterkenny and Dublin ahead of the withdrawal date.
EI has also been running a PrepareforBrexit communications campaign, featuring the Brexit SME Scorecard and the PrepareforBrexit.ie website, which offers information on the likely impacts of Brexit on Irish businesses and how these impacts might be mitigated. The Brexit SME Scorecard is an interactive online platform that can be used by all Irish businesses to self-assess their exposure to Brexit.
Funding to the Local Enterprise Offices has been increased by 22% and they, along with InterTradeIreland, are offering a range of Brexit-focused supports to companies, including those engaged in cross-border trade with Northern Ireland. InterTradeIreland continues to offer its Brexit: Start to Plan voucher scheme, which makes available financial support of up to €2,250 towards professional advisory services to address Brexit-related challenges.
The LEOs offer Brexit supports to micro and small businesses through the 31 LEOs nationwide, including tailored mentoring to address Brexit-related business challenges, and targeted training on specific Brexit challenges.
For further information, as well as details of the information and advisory supports available, businesses should consult my Department's Getting Business Brexit Ready page at dbei.gov.ie/BrexitReady.
