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Enterprise Support Schemes

Dáil Éireann Debate, Tuesday - 5 March 2019

Tuesday, 5 March 2019

Ceisteanna (252)

Niamh Smyth

Ceist:

252. Deputy Niamh Smyth asked the Minister for Business, Enterprise and Innovation the funding streams available in a case (details supplied); and if she will make a statement on the matter. [10727/19]

Amharc ar fhreagra

Freagraí scríofa

The Local Enterprise Offices (LEOs) are the ‘first-stop-shop’ for advice and guidance, financial assistance and other supports for entrepreneurs and businesses that intend to start or grow.

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. Subject to certain eligibility criteria, the LEOs can provide financial assistance within three main categories: Feasibility Grants (investigating the potential of a business idea); Priming Grants (to part-fund a start-up); and Business Development Grants for existing businesses that want to expand.

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 favourable 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.

InterTradeIreland (ITI) – which is jointly funded by my Department and its Northern Ireland counterpart – offers a range of business supports to SMEs designed to encourage enterprise development on an all-island basis. ITI helps businesses explore new cross border markets, develop new products, processes and services and become investor ready. Through its suite of programmes and supports, ITI provides funding, advice and contacts which help SMEs across the island that are looking to grow their business. Given its mandate to develop North South Trade, ITI is also particularly well-placed to assist businesses in preparing for the challenges associated with Brexit. ITI provides a range of Brexit supports through its Brexit Advisory Service, including a “Start to Plan” voucher which enables companies to access professional advice to help them plan for Brexit. Further information on ITI’s supports and programmes is available on their website https://intertradeireland.com/

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