Business Supports in Ireland

Covid-19 Business Loan

Offered by:

Microfinance Ireland

What is it?

A government initiative aimed at offering support to small businesses that have been negatively impacted through the onset of COVID-19. The MFI COVID-19 Business Loan is specifically for those that have failed in securing finance through banks or other commercial lending providers.

Features:

• Loans between €5,000 and €25,000

• 5.5% APR

  • (4.5% if you apply through the Local Enterprise Office Network)

• 0% interest and zero repayments

  • (for the first six months)

• Typical loan terms: up to 3 years

• No charges or fees

• Fixed repayments

For Who?

Companies with 10 employees or fewer, operating as a Limited Company, Partnership or Sole Trader. The business must have been trading before the onset of COVID-19 in Ireland. The company must have been negatively affected by the impact of COVID-19, resulting in a 15%, or more, reduction in profit or turnover.

What do we think?

This is a great option for those that may be struggling to find finances through traditional loan avenues. With reasonable rates, spread over three years if needed, and with the first six months repayment free - it could be just the leg up a company needs to get back on its feet.

COVID-19 Working Capital Scheme

Offered by:

The Strategic Banking Corporation of Ireland

What is it?

This loan is offered by the Strategic Banking Corporation of Ireland in conjunction with Bank of Ireland, AIB and Ulster Bank. The purpose of the scheme is to aid in the future working capital demands of a business and to mitigate the negative impact on the businesses from the onset of COVID-19.

Features:

• Loans between €25,000 and €1.5m

• A max. interest rate of 4%

• Loan terms: 1 to 3 years

• Unsecured loans of up to €500,000

For Who?

Aimed at micro-enterprises, small mid-cap enterprises as well as small and medium-sized enterprises (SMEs) that meet the following eligibility criteria:

• Fewer than 250 employees

• Turnover of €50 million or less

• Are not part of a wider group of enterprises

• Established and operating in the Republic of Ireland

• Public bodies hold 25%, or less, of the company’s capital

What do we think?

It seems like a lot of red-tape and paperwork to get to the end line on this one, (having to negotiate with your bank, as well as the government body involved), but definitely worth it if it all comes together. High loan amounts available, at a decent 4% APR, spread across three years… if your company ticks all the boxes, it’s certainly worth a shot.

(Also available to SMEs)

The Future Growth Loan Scheme

Offered by:

The Strategic Banking Corporation of Ireland

What is it?

Created in June 2019 The Strategic Banking Corporation of Ireland, with the support of the Department of Business Enterprise and Innovation and the Department of Agriculture, Food and the Marine. The scheme is run in partnership with financial providers such as KBC Bank and Close Brothers. This is a longer-term (7-10 years), lower-cost (4.5% APR) loan.

Features:

• Loans between €25,000 and €3m

• Max Loan Interest of 4.5% for loans under €250,000

  • 3.5% from loans above €250,000

• Loan terms: 7 to 10 years

• Unsecured loans of up to €500,000

For Who?

Aimed mainly at micro-enterprises, SMEs and farmers that meet the following eligibility criteria:

• Fewer than 250 employees

• Turnover of €50 million or less

• Are not part of a wider group of enterprises

• Established and operating in the Republic of Ireland

• Public bodies hold 25%, or less, of the company’s capital

What do we think?

Definitely one for those with a long-term plan in mind. Ideal for those looking to invest in cost-intensive items for their business, such as property and equipment. Side note: For those looking to apply for a loan of over €250,000, must submit a business to their relevant financial provider. Bank of Ireland, Ulster Bank and AIB are currently fully subscribed to this scheme and are no longer taking submissions. KBC Bank and Close Brothers are taking submissions.

(Also available to SMEs)

COVID-19 Credit Guarantee Scheme

Offered by:

Bank of Ireland

What is it?

Bank of Ireland offers a low-cost lending solution for businesses that have been negatively affected by the COVID-19 pandemic. This scheme was set up in September 2020 and will run until the 30th of June 2021, or until it has been fully subscribed.

• Unsecured loans ranging from €10,000 up to €250,000

• Loans between €250,000 up to €1,000,000 may require security

• Variable interest rate

  • (Ranging from 2.75% to 2.78%)

• Interest-only option

  • (For up to the initial 12 months, at the bank’s discretion)

For Who?

Bank of Ireland’s COVID-19 Credit Guarantee Scheme is available to all businesses, whether they are Bank of Ireland customers or not. The following eligibility criteria apply:

• On the 31st of December:

  • The business was not in financial difficulty and was viable

• The business can return to viability in the future

• COVID-19 has brought about a decrease of 15% or more in the business’ actual or potential turnover or profit

What do we think?

If your business fits the criteria, this one is a no-brainer. A great, low-cost way to tide things over until the business’ earnings can return to where they were pre-COVID-19.

(Also available to SMEs)

Expansion Loan Package

Offered by:

Microfinance Ireland

What is it?

This Expansion Loan Package, offered by Microfinance Ireland, is aimed at companies that are looking to grow and expand their business.

Features:

• Loans between €5,000 and €25,000

• Loan terms: Max 5 years

• Free mentoring included

For Who?

This expansion loan is available to all Irish Limited Companies, Sole Traders and Partnerships (involved in any sector) that meet the following eligibility criteria:

• The business has been in operation for more than 18 months

What do we think?

This one could be ideal for a business that is looking at growth and expansion over the next five years. We can’t be exact on the APR for this loan (The interest rate of the loan is calculated within the Loan Offer Letter).

Cashflow Loan Package

Offered by:

Microfinance Ireland

What is it?

The Cashflow Loan, offered via Microfinance Ireland, is available for Irish businesses that are looking to ease cashflow difficulties and fund the day-to-day running of the company.

• Loans of between €5,000 and €25,000

• Fixed repayments

• Loan term: Max 3 years

• Free monitoring included

For Who?

This Cashflow Loan is available to all Irish Limited Companies, Sole Traders and Partnerships (involved in any sector) that meet the following eligibility criteria:

• The business has been in operation for more than 18 months

What do we think?

All businesses, from time to time, will look for financial help with their cashflow and general day-to-day operations, this could be the ideal loan should your company find itself in such a situation. We can’t tell you the exact APR on this loan (The interest rate of the loan is calculated within the Loan Offer Letter).

LEO Priming Grant

Offered by:

Local Enterprise Office

What is it?

This is a grant from the LEO. It is available to microenterprises within the first year and a half of operating. They will put up either 50% of the investment costs or €150,000 depending on which is lesser. You can use this grant for things like:

• Capital purchases

• Salary and payroll

• Marketing costs

• Consultants

• Innovation Costs

• Overhead costs

For Who?

Anyone with a newly established business that is looking for investment capital to ramp up.

What do we think?

Another no-brainer for us. This one is great for anyone who is looking to get some capital in the door at the start.

Covid-19 Business Financial Planning Grant

Offered by:

Enterprise Ireland

What is it?

This grant support allows all Enterprise Ireland clients, that have been negatively affected by COVID-19, to access consultancy with approved, third-party financial planning advisors.” à “Enterprise Ireland clients and non-clients (that have ten or more employees and are in the manufacturing or internationally traded services sectors) which have been negatively affected by COVID-19, can apply for consultancy support from approved, third-party financial planning advisors.

Features:

• Up to €5,000 grant support

  • for engagement with third-party financial planning consultants.

For Who?

This grant is aimed at all Enterprise Ireland clients, as well as any business that falls under the following categories:

• Údarás na Gaeltachta Clients

• IDA Clients (Industrial Development Authority)

• Non-Enterprise Ireland clients

  • That are domestically focused, manufacturing and/or Internationally traded services and employ 10 or more full-time staff.

• Businesses will need to have a positive De Minimis balance in order to cover the grant amount.

• Companies that are active in the primary production of agricultural products, or that operate in the fisheries, coal, or steel sectors are not eligible.

What do we think?

This grant is pretty specific, in terms of its usage, but if financial planning is something that your business is currently struggling with, this could be ideal. The Covid-19 Business Financial Planning Grant is available until June 2021.

(Also available to SMEs)

Technical Assistance for Micro Exporters

Offered by:

Local Enterprise Office

What is it?

This grant, from the Local Enterprise Office, was created to help Micro-Enterprises in Ireland to explore new market opportunities. The grant, also known as TAME, part-funds the business costs incurred through the researching of export markets. These costs can include; Website development aimed at reaching overseas markets, Trade Fair exhibitions and the preparation of marketing material.

Features:

• 50% of eligible costs

  • (up to a maximum of €2,500 in a calendar year)

• All incurred expenditure must happen after the application of the grant

For Who?

The grant is accessible to all companies that meet the following eligibility criteria:

• Must not employ more than 10 people

• Must be located within the Local Enterprise Office’s geographic location

• Must operate within the commercial sector

  • (and operate in manufacturing or internationally traded services)

• Must show that there is a market for their proposed service or product

• Must not have been the recipient of funding, for their proposal, from any other source

What do we think?

If your business meets the above criteria and is looking to expand into new markets, this grant could be the ideal way to ease some of the financial burden involved in the process.

Feasibility Study Grants

Offered by:

Local Enterprise Office

What is it?

The Feasibility Study Grant, offered by the Local Enterprise Office, is aimed to assist a business with funding for market demand research. This research can include; the hiring of private specialists in third-level colleges, consultancy requirements, prototype development and design.

Features:

• A grant of up to 50% of the investment

  • (Up to €15,000, whichever is the lesser)

For Who?

This grant is available to all companies that meet the following eligibility criteria:

• Have under 10 employees

• Must be located within the Local Enterprise Office’s geographic location

• Must operate within the commercial sector

  • (and operate in manufacturing or internationally traded services)

• Must show that there is a market for their proposed service or product

• Must show potential for new job creation, and show the potential for growth - both domestically and in export markets

What do we think?

This grant has a pretty specific set of criteria, that may not be inclusive for all. But, if your business is classed as suitable, this one is a no-brainer.

Business Expansion Grants

Offered by:

Local Enterprise Office

What is it?

The Business Expansion Grant, offered by the Local Enterprise Office, is available for businesses that are moving out of their initial 18-month start-up phase and are looking to expand.

Features:

• A grant of up to 50% of the investment

  • (Up to €150,000, whichever is the lesser)

For Who?

This grant is available for all limited companies, sole traders and partnerships that meet the following eligibility criteria:

• Has under 10 employees

• Is located within the Local Enterprise Office’s geographic location

• Operate in manufacturing or internationally traded services

• Is a domestically traded service business and has the potential for international trade

• Has the potential, on growth, to have the capacity to move into Enterprise Ireland’s portfolio

What do we think?

Grants between €80,000 and €150,000 are the exception here. Grants of this size will be exclusive to projects that show a clear potential to export internationally and/or graduate to Enterprise Ireland. For all other cases, the grant will be 50% of the investment or €80,000, whichever of the two is lesser. If your business falls within the criteria for either grant, this one is well worth further investigation.

Temporary COVID-19 Wage Subsidy Scheme

Offered by:

Revenue

What is it?

This grant, offered to businesses by the Irish Government, was created to help assist employers in meeting their wage costs during the COVID-19 pandemic.

Features:

• A scalable subsidy percentage, based on employees’ net earnings

For Who?

This scheme is aimed at any Irish business that falls within the following categories:

• Businesses that show significant negative economic disruption caused by COVID-19

  • (Must be able to prove to Revenue that they have experienced a minimum decline of 25% turnover)

• Businesses that can show that they are unable to pay normal outgoings and wages fully

• Businesses that can retain their employees on the payroll

What do we think?

This one is definitely a no-brainer for all businesses, as long as you have your paperwork in order to demonstrate your need for such a grant.

(Also available to SMEs)

Emergency Business Solutions

Offered by:

InterTradeIreland

What is it?

InterTradeIreland offers business advice to companies that may need it. Available to cross-border businesses operating in both the Republic of Ireland and Northern Ireland.

Features:

• Professional advice to the value of €2,500

  • (£2,000)

• Advice concerning key business challenges relating to COVID-19

For Who?

Advice is available for any business that operates in both the Republic of Ireland and Northern Ireland and is located on the island of Ireland. The following eligibility criteria must also be met:

• Fewer than 250 employees

• Turnover of less than €50m

• Satisfactory trading history

What do we think?

COVID-19 has seen many businesses reach out for advice, this is a 100% funded solution for those companies that fall under the criteria.

(Also available to SMEs)

Business-support Programme

Offered by:

MentorsWork

What is it?

The Business-support programme, offered by MentorsWork, is an 8-week nationwide scheme that is aimed to offer guidance to businesses during the COVID-19 pandemic.

Features:

• Three Mentoring Sessions (One to One)

• Two Peer-focused Workshops

• Two Expert-Led Masterclasses

• Access to Three Curated Online Learning Platform Sessions

For Who?

The programme is available to businesses that meet the following eligibility criteria:

• Between 5 and 250 employees

• Operate in the private sector

• Based in Ireland

What do we think?

If your business meets the criteria needed, this one doesn’t need a second thought. Free, expert guidance with actionable insights. Also, a great way to network and build up your peer-to-peer contacts.

(Also available to SMEs)

Vacant Commercial Premises Scheme

Offered by:

Local Enterprise Office

What is it?

This scheme allows the owner or lessee of a commercial property to receive a sliding-scale tax refund on rates paid for the first three years of occupation of the property. The property must have been vacant for at least six months prior to occupation.

Features:

• Sliding-scale refund of 75%, 50% and 25% of rates paid

• Maximum refund of €7,500, €5,000 and €2,500 each year, respectively.

For Who?

This scheme can be accessed by any persons that meet the following eligibility criteria:

• They are the owner or lessee of the premises

  • (Proof showing this is needed)

• ‘Independent’ applicants only

  • (Must not be a part of a larger chain or multiples)

• No unauthorised development to have taken place on the premises and future use of the premises must stay within the existing planning permission

What do we think?

There is a lot of paperwork to get through, in terms of application and supporting evidence, but definitely worth a shot if it all comes together.

(Also available to SMEs)

Small Business Advice Programme

Offered by:

Small Business Advice

What is it?

The Small Business Advice programme is an incentive set up with the aim to provide small businesses in Ireland with free guidance and advice. It is supported by nationwide Chambers of Commerce as well as the Plato Business Network, and is a way for successful business people to support small businesses that are in need of advice.

Features:

• Free Business Advice & Guidance

For Who?

This scheme is available to all Irish-based companies that fall within the following eligibility criteria:

• Businesses that employ 10 people or fewer

What do we think?

This one is a complete no-brainer. Simple, free, actionable advice and guidance. Also, a great way to network and meet up with like-minded people.

(Also available to HPSUs)

Accelerated Capital Allowance

Offered by:

SEAI (Sustainable Energy Authority of Ireland)

What is it?

This scheme, available through the Sustainable Energy Authority of Ireland, allows companies, sole traders, and farmers to deduct the full cost of equipment from their profits. The business must pay corporation tax in Ireland and the application must be made in the same year as the equipment was purchased.

Features:

• 100% tax-free capital expenditure on equipment

  • (During the first year of its purchase)

• No approval needed on energy-efficient equipment

For Who?

All sole traders, companies and farmers that meet the following eligibility criteria can avail of the Accelerated Capital Allowance scheme:

• Operate and pay corporation tax in Ireland

What do we think?

Seems like an incentive that doesn’t need a second thought… so long as you have your own accounts in order.

(Also available to SMEs)

Trading Online Voucher Scheme

Offered by:

Local Enterprise Office

What is it?

With this scheme, offered by the Local Enterprise Office and the Irish Government, businesses can avail of financial assistance, training, and advice to help them expand their online trading capabilities.

Features:

• €2,500 in Financial Assistance

  • (With 50% co-funded by the business)

For Who?

This scheme is available to all Irish businesses that meet the following eligibility criteria:

• 10, or fewer, employees

• Less than €2m Annual Turnover

• Must be trading for at least six months

• Businesses that have little or no e-commerce presence

• Businesses that are located in the same jurisdiction as their Local Enterprise Office of choice

What do we think?

Definitely sounds like a great way to increase your online presence without too much financial burden. Also, a great way to upskill both yourself and your employees in the areas of web development, search engine optimisation, and digital marketing.

Elevate Programme

Offered by:

InterTradeIreland

What is it?

The Elevate Programme, available through InterTradeIreland, is specifically aimed at Micro-Enterprises. 100% funded consultancy, designed to help Micro-Enterprises involved with cross-border trading is available.

Features:

• 100% Funded Consultancy

  • (Up to €5,500/£5,000)

• Choice of Sales Advisors

For Who?

This programme is available for any Micro-Enterprise business that meets the following eligibility criteria:

• 10 employees, or fewer

• Annual Turnover less than €1.8m/£1.5m

• Satisfactory Trading History in their home market

• Have the capacity to deliver the project

• Have not previously been a part of the InterTradeIreland ‘Acumen’ programme

What do we think?

A must-investigate for all Irish and Northern Irish Micro-Enterprises operating, or looking to operate, cross-border. The application process seems straight-forward, so it can’t hurt to give it a shot.

COVID-19 Working Capital Scheme

Offered by:

The Strategic Banking Corporation of Ireland

What is it?

This loan is offered by the Strategic Banking Corporation of Ireland in conjunction with Bank of Ireland, AIB and Ulster Bank. The purpose of the scheme is to aid in the future working capital demands of a business and to mitigate the negative impact on the businesses from the onset of COVID-19.

Features:

• Loans between €25,000 and €1.5m

• A max. interest rate of 4%

• Loan terms: 1 to 3 years

• Unsecured loans of up to €500,000

For Who?

Aimed at micro-enterprises, small mid-cap enterprises as well as small and medium-sized enterprises (SMEs) that meet the following eligibility criteria:

• Fewer than 250 employees

• Turnover of €50 million or less

• Are not part of a wider group of enterprises

• Established and operating in the Republic of Ireland

• Public bodies hold 25%, or less, of the company’s capital

What do we think?

It seems like a lot of red-tape and paperwork to get to the end line on this one, (having to negotiate with your bank, as well as the government body involved), but definitely worth it if it all comes together. High loan amounts available, at a decent 4% APR, spread across three years… if your company ticks all the boxes, it’s certainly worth a shot.

(Also available to Micro-Enterprises)

The Future Growth Loan Scheme

Offered by:

The Strategic Banking Corporation of Ireland

What is it?

Created in June 2019 The Strategic Banking Corporation of Ireland, with the support of the Department of Business Enterprise and Innovation and the Department of Agriculture, Food and the Marine. The scheme is run in partnership with financial providers such as KBC Bank and Close Brothers. This is a longer-term (7-10 years), lower-cost (4.5% APR) loan.

Features:

• Loans between €25,000 and €3m

• Max Loan Interest of 4.5% for loans under €250,000

  • 3.5% from loans above €250,000

• Loan terms: 7 to 10 years

• Unsecured loans of up to €500,000

For Who?

Aimed mainly at micro-enterprises, SMEs and farmers that meet the following eligibility criteria:

• Fewer than 250 employees

• Turnover of €50 million or less

• Are not part of a wider group of enterprises

• Established and operating in the Republic of Ireland

• Public bodies hold 25%, or less, of the company’s capital

What do we think?

Definitely one for those with a long-term plan in mind. Ideal for those looking to invest in cost-intensive??? items for their business, such as property and equipment. Side note: For those looking to apply for a loan of over €250,000, must submit a business to their relevant financial provider. Bank of Ireland, Ulster Bank and AIB are currently fully subscribed to this scheme and are no longer taking submissions. KBC Bank and Close Brothers are taking submissions.

(Also available to Micro-Enterprises)

COVID-19 Credit Guarantee Scheme

Offered by:

Bank of Ireland

What is it?

Bank of Ireland offers a low-cost lending solution for businesses that have been negatively affected by the COVID-19 pandemic. This scheme was set up in September 2020 and will run until the 30th of June 2021, or until it has been fully subscribed.

• Unsecured loans ranging from €10,000 up to €250,000

• Loans between €250,000 up to €1,000,000 may require security

• Variable interest rate

  • (Ranging from 2.75% to 2.78%)

• Interest-only option

  • (For up to the initial 12 months, at the bank’s discretion)

For Who?

Bank of Ireland’s COVID-19 Credit Guarantee Scheme is available to all businesses, whether they are Bank of Ireland customers or not. The following eligibility criteria apply:

• On the 31st of December:

  • The business was not in financial difficulty and was viable

• The business can return to viability in the future

• COVID-19 has brought about a decrease of 15% or more in the business’ actual or potential turnover or profit

What do we think?

If your business fits the criteria, this one is a no-brainer. A great, low-cost way to tide things over until the business’ earnings can return to where they were pre-COVID-19.

(Also available to Micro-Enterprises)

Key Manager/Part-Time Key Manager

Offered by:

Enterprise Ireland

What is it?

This grant was set up to financially assist businesses that are looking to recruit a full-time or part-time key manager. Key manager examples include CFO, CTO, Production Manager and R&D Manager.

Eligible Salary Costs:

• Maximum annual salary of €100,000

  • (For a full-time role)

• Between €50,000 and €100,000

  • (For a part-time role)

For Who?

Applications are open to Irish businesses that meet the following eligibility criteria:

• 10, or more, employees at the time of application

• At least two years of trading history at the time of application

What do we think?

Financial assistance is always welcome, especially when it comes by way of a grant. Each company, that meets the eligibility criteria, can apply for two key managerial roles within a 12-month period. The maximum support level will be decided by the state aid basis applied to it.

Mentor Grant

Offered by:

Enterprise Ireland

What is it?

The Mentor Grant, operated by Enterprise Ireland, aims to connect business owners, from new, early-stage, and established companies to experienced business mentors.

• Mentors are paid by Enterprise Ireland on the company’s behalf

  • (Up to 10 sessions, to a total of €1,750)

• Zero cost to the company

  • (Although you may be asked to travel to the mentor’s location)

For Who?

This grant is available to all Enterprise Ireland clients that meet the following eligibility criteria:

• Have between 10 and 249 employees

• Involved in manufacturing or internationally traded services

What do we think?

This one is a win-win. There is zero cost to the business, and you receive actionable business advice; from Strategic business planning to options for attracting outside funding and investment. You can also tailor the frequency of your meet-ups with your mentor, spread across 3, 6 or 12 months.

Could your business benefit from a highly skilled business mentor? Find details here on Enterprise Ireland’s mentoring supports.

(Also available to HPSUs)

Strategic Consultancy Grant

Offered by:

Enterprise Ireland

What is it?

This grant, run by Enterprise Ireland, is aimed at assisting SMEs in the recruitment of Strategic Consultants to work alongside the business in the process of developing and implementing strategic initiatives.

Features:

• 50% of the costs involved in hiring a Strategic Consultant

  • (€35,000 maximum grant amount)

For Who?

This grant can be applied for by any company that meets the following eligibility criteria:

• 10 to 249 employees

• Involved in manufacturing or internationally traded services

• Companies that are unable to receive support from An Bord Bia or An Bord Iascaigh Mhara

What do we think?

It’s a pretty niche market for this one, but if it meets your business needs then it’s definitely worth pursuing.

Temporary COVID-19 Wage Subsidy Scheme

Offered by:

Revenue

What is it?

This grant, offered to businesses by the Irish Government, was created to help assist employers in meeting their wage costs during the COVID-19 pandemic.

Features:

• A scalable subsidy percentage, based on employees’ net earnings

For Who?

This scheme is aimed at any Irish business that falls within the following categories:

• Businesses that show significant negative economic disruption caused by COVID-19

  • (Must be able to prove to Revenue that they have experienced a minimum decline of 25% turnover)

• Businesses that can show that they are unable to pay normal outgoings and wages fully

• Businesses that can retain their employees on the payroll

What do we think?

This one is definitely a no-brainer for all businesses, as long as you have your paperwork in order to demonstrate your need for such a grant.

(Also available to Micro-Enterprises)

Covid 19 Business Financial Planning Grant

Offered by:

Enterprise Ireland

What is it?

This grant support allows all Enterprise Ireland clients, that have been negatively affected by COVID-19, to access consultancy with approved, third-party financial planning advisors.” à “Enterprise Ireland clients and non-clients (that have ten or more employees and are in the manufacturing or internationally traded services sectors) which have been negatively affected by COVID-19, can apply for consultancy support from approved, third-party financial planning advisors.

Features:

• Up to €5,000 grant support

  • for engagement with third-party financial planning consultants.

For Who?

This grant is aimed at all Enterprise Ireland clients, as well as any business that falls under the following categories:

• Údarás na Gaeltachta Clients

• IDA Clients (Industrial Development Authority)

• Non-Enterprise Ireland clients

  • That are domestically focused, manufacturing and/or Internationally traded services and employ 10 or more full-time staff.

• Businesses will need to have a positive De Minimis balance in order to cover the grant amount.

• Companies that are active in the primary production of agricultural products, or that operate in the fisheries, coal, or steel sectors are not eligible.

What do we think?

This grant is pretty specific, in terms of its usage, but if financial planning is something that your business is currently struggling with, this could be ideal. The Covid-19 Business Financial Planning Grant is available until June 2021.

(Also available to Micro-Enterprises)

Innovation Voucher

Offered by:

Enterprise Ireland

What is it?

The Innovation Voucher is basically a way for SMEs to utilise the resources of a number of third-level institutions and public research bodies for a whole range of innovations such as:

• New product/process development.

• New business model development.

• New service delivery and customer interface.

• New service development.

• Tailored training in innovation management.

• Innovation/technology audit.

• Vouchers can be exchanged for knowledge transfer projects from the knowledge provider.

For Who?

SMEs registered in Ireland, with some exclusions (available here).

What do we think?

If the supports and expertise available in one of the partner institutes are compatible with your business idea then this is definitely a winner!

Emergency Business Solutions

Offered by:

InterTradeIreland

What is it?

InterTradeIreland offers business advice to companies that may need it. Available to cross-border businesses operating in both the Republic of Ireland and Northern Ireland.

Features:

• Professional advice to the value of €2,500

  • (£2,000)

• Advice concerning key business challenges relating to COVID-19

For Who?

Advice is available for any business that operates in both the Republic of Ireland and Northern Ireland and is located on the island of Ireland. The following eligibility criteria must also be met:

• Fewer than 250 employees

• Turnover of less than €50m

• Satisfactory trading history

What do we think?

COVID-19 has seen many businesses reach out for advice, this is a 100% funded solution for those companies that fall under the criteria.

(Also available to Micro-Enterprises)

Business-support Programme

Offered by:

MentorsWork

What is it?

The Business-support programme, offered by MentorsWork, is an 8-week nationwide scheme that is aimed to offer guidance to businesses during the COVID-19 pandemic.

Features:

• Three Mentoring Sessions (One-to-One)

• Two Peer-focused Workshops

• Two Expert-Led Masterclasses

• Access to Three Curated Online Learning Platform Sessions

For Who?

The programme is available to businesses that meet the following eligibility criteria:

• Between 5 and 250 employees

• Operate in the private sector

• Based in Ireland

What do we think?

If your business meets the criteria needed, this one doesn’t need a second thought. Free, expert guidance with actionable insights. Also, a great way to network and build up your peer-to-peer contacts.

(Also available to Micro-Enterprises)

Vacant Commercial Premises Scheme

Offered by:

Local Enterprise Office

What is it?

This scheme allows the owner or lessee of a commercial property to receive a sliding-scale tax refund on rates paid for the first three years of occupation of the property. The property must have been vacant for at least six months prior to occupation.

Features:

• Sliding-scale refund of 75%, 50% and 25% of rates paid

• Maximum refund of €7,500, €5,000 and €2,500 each year, respectively.

For Who?

This scheme can be accessed by any persons that meet the following eligibility criteria:

• They are the owner or lessee of the premises

  • (Proof showing this is needed)

• ‘Independent’ applicants only

  • (Must not be a part of a larger chain or multiples)

• No unauthorised development to have taken place on the premises and future use of the premises must stay within the existing planning permission

What do we think?

There is a lot of paperwork to get through, in terms of application and supporting evidence, but definitely worth a shot if it all comes together.

(Also available to Micro-Enterprises)

Accelerated Capital Allowance

Offered by:

SEAI (Sustainable Energy Authority of Ireland)

What is it?

This scheme, available through the Sustainable Energy Authority of Ireland, allows companies, sole traders, and farmers to deduct the full cost of equipment from their profits. The business must pay corporation tax in Ireland and the application must be made in the same year as the equipment was purchased.

Features:

• 100% tax-free capital expenditure on equipment

  • (During the first year of its purchase)

• No approval needed on energy-efficient equipment

For Who?

All sole traders, companies and farmers that meet the following eligibility criteria can avail of the Accelerated Capital Allowance scheme:

• Operate and pay corporation tax in Ireland

What do we think?

Seems like an incentive that doesn’t need a second thought… so long as you have your own accounts in order.

(Also available to Micro-Enterprises)

E-Merge

Offered by:

InterTradeIreland

What is it?

This programme, available through InterTradeIreland, offers 100%-funded consultancy support to companies that are looking to develop their online sales and e-commerce solutions.

• Fully-funded consultancy support

  • (Up to €2,800/£2,500 in total)

For Who?

This support is aimed at businesses that meet the following eligibility criteria:

• Businesses registered in the Republic of Ireland or Northern Ireland

• SMEs with less than 250 employees

• Businesses that are involved in the manufacturing or tradeable services sectors

• Have a trading history in their home markets

  • (Minimum 12 to 18 months)

• Have a history in cross-border trade

  • (Or have identified the potential for cross-border trade)

• Businesses that can finish the E-Merge project within four to six weeks of approval

What do we think?

Being fully-funded and giving you the chance to upskill in areas such as SEO, Website management, e-commerce and many more… this one at least warrants a look.

Employment Wage Subsidy Scheme

Offered by:

Revenue

What is it?

The Employment Wage Subsidy Scheme was put forward by the Irish Government to help companies, that have been negatively affected by COVID-19, keep certain employees on their payroll.

Features:

• A weekly flat-rate subsidy

  • (Based on the number of qualifying employees)

For Who?

This scheme is available to any Irish company that meets the following eligibility criteria:

• Have suffered a 30% or more decline in turnover or customer orders

  • (Between July and December 2020, compared to the same period in 2019)

• An employer must be paying €151.50 and €1,462 gross wages per week

What do we think?

Definitely worth a look for anyone who may be struggling with wage costs due to COVID-19.

Research and Development (R&D) Tax Credit

Offered by:

Revenue

What is it?

This tax relief, offered by the Irish Government, allows money spent by a company undertaking research and development to qualify for a tax credit. It is aimed at reducing the business’ Corporation Tax.

Features:

• The tax credit is calculated at 25% of the qualifying expenditure

For Who?

Any Irish business can avail of this tax credit as long as their research and development meet the following criteria:

• The R&D

  • Involves systematic, investigative, or experimental activities

  • Is in the field of technology or science

  • Involves one or more of these categories

    • Basic research

    • Applied research

    • Experimental research

  • Aims to achieve technological or scientific advancements

  • Aims to resolve technological or scientific uncertainties

What do we think?

This relief certainly has a lot of red tape and paperwork to sort through, but certainly worth it in the end for those that meet the criteria.

Bank of Ireland | WorkBench

Offered by:

Bank of Ireland

What is it?

Bank of Ireland’s WorkBench initiative is open to all businesses. It offers free hot-desking space and event centres.

Features:

• Free workspace

• Complimentary Wi-Fi

Locations:

• Dublin

• Cork

• Limerick

• Galway

• Wexford

What do we think?

This facility is particularly helpful for start-ups who may not, as yet, have a physical location to operate from. You can invite guests to join you, and you’ll even be given a post-delivery address.

CoLab Workspace

Offered by:

CoLab

What is it?

CoLab, is an innovation centre located on Letterkeny IT campus. It is a dynamic hub for start-ups, providing flexible office space and great facilities for inventor entrepreneurs at various stages and satellite space for international companies.  With a strong ethos of collaboration and ambition, CoLab, to date, has supported over 300 entrepreneurs with innovative ideas, many of whom are successfully trading all over the world. CoLab has a valuable network of businesses and international connections for entrepreneurs to draw upon. The team provide support for technology start-ups across all sectors, through the New Frontiers programme and in-house knowledge.

Features:

• Free workspace

  • (For the first two months)

• Complimentary Fibre Broadband

• Photocopying and Binding

• Kitchen, Coffee Shops and Canteen

• Meeting Rooms

• Sports Facilities

Locations:

• Donegal

  • Letterkenny Institute of Technology

What do we think?

CoLab is the ideal solution for start-ups and established businesses in the North-West of Ireland that may not have an optimum location in which to run their day-to-day operations. CoLab gives companies the space to grow as their business does, from hot-desks in co-working environments to large private offices.