Micro Enterprise
Financial Supports
Eibhlin Curley
Oifig Fiontair Áitiúil
Chathair Bhaile Átha Cliath
Local Enterprise Office Dublin City
__________
Eligibility for Funding
Micro-enterprises with 1 – 10 employees, hiring new full-time paid
employee(s)
Business operating full-time within the Dublin City Council area
Not getting other state financial support eg Enterprise Ireland at
the same time
Sectors: Financial support is focused on
innovative niché market businesses that are:
•
Manufacturing eg Food producers
•
Internationally traded services eg software
•
Services with overseas customers
Not retail, trades, professionals, imports or local services
Feasibility Study Grants
Maximum €20,000
For Product development & Market research
Use an Enterprise Ireland Innovation Voucher if possible
Application Form & LEO Feasibility Proposal Framework
Must have the money to spend it and get 50% refund based
on receipts (excluding VAT)
• 50% consultancy - 3rd party costs
• 50% patent costs
• 50% prototype development - 3rd party costs
Business Development Grant
Commercially viable businesses trading over 18 months
Must to hiring at least 1 new full-time permanent paid employee
Eligible Costs:
• Job Creation Salary costs average €10,000 per person
• Capital items (50% costs towards manufacturing/ industrial
equipment). Mobile assets not eligible (van, laptop etc)
• 3rd party Consultancy/ Marketing
Business Development Grant/Loan up to
€80,000 depending on # jobs created
Terms & Conditions:
Must be at least 1 new full-time job created
A portion could be refundable (no interest charged) after 1
year moratorium
Grants up to €20,000
0% refundable
Grants over €20,000
50% or 66% or100%
Refundability decided on a case by case basis depending on
amount of grant, number of jobs created, assets etc
A current valid Business Tax Clearance Certificate required
Application Process
Identify what type of grant & eligible business expenses you are
applying for and get 3 quotes for each item, identify possible
candidates for the new job(s)
You will need to have the finance to pay for the items above since the
grant covers 50% excluding VAT based on the proof of the 100%
payment.
Submit; Application Form, C.V., Business Plans (LEO Framework)
For Priming & Business Development Grant
12 month projected cashflow, 3 year projected Profit & Loss A/c,
plus most recent Management Accounts (Audited A/cs for larger loans)
Deadline: 1st October and 5th November 2014 at 12 noon
Meet a LEO Executive
Evaluation & Approvals Committee decision up to €40,000
Enterprise Ireland approval needed for funding
over €40,000 - €80,000
Letter of offer issued
Grant/ Loan accepted
Grant claim must be within 4 months
Payment made when the necessary paperwork is submitted and
signed
Repayments begin 12 months after the final drawdown
Reasons why projects are rejected;
• Sector
• Deadweight
• Displacement
• Commercial viability
Re
Grant Claim if approved funding
Payments made based on receipted expenditure of approved expenses,
bank statements
Salary contribution is made in 2 instalments 6 months apart
Business Tax Clearance Certificate (not personal)
Accountants letter confirming employees full-time paid
Annual employment survey and follow up every year – report to Dept
of Jobs, Enterprise & Innovation
Audited by C&A.G. and EU, Internal Audit & external auditors – correct
procedure and paperwork a must
Other Types of Funding from LEO
Export Grant
To exhibit at overseas trade shows
50% of expenses up to a maximum of €3,500
Eligible expenses:
Marketing material (Quotes from 3 suppliers)
Exhibitor fees, Travel & Accommodation
Online Trading Voucher
Purpose to promote online sales for bricks & mortar business
Compulsory a half day workshop
50% of expenses up to a maximum of €2,500
Must get quotes from 3 suppliers
Thanks for listening
Q&A