What Grants Are Available?
What Projects Can We Help?
What Grant Aid Is Available?
How To Apply For Grant Aid
Application Form For Financial Assistance .pdf file
The Enterprise Boards have four types of financial incentives available:
- Feasibility Study Grant (BMW region: maximum €6,350; South and East region: maximum €5,100)
- Capital (Refundable Capital) Grant up to €75,000
- Employment (Refundable Employment) Grant up to €7,500 per new employee up to ten employees. The employment grant may also apply to a person starting up his/her own business.
- Equity Finance - up to €75,000 can be invested in qualifying limited companies in the form of Preference Share Investment.
Q. What is a Feasibility Study Grant?
A. Feasibility grants may be provided to assist with the cost of necessary studies undertaken by the Promoters of new or existing businesses, for the purpose of assessing market demand for a proposed new product or service, the appropriateness of the associated funding plans and the general viability andsustainability of the venture. The scope of a feasibility study may include; consultant’s fees incurred on market research, product development, financial evaluation, site assessment and business plan. In the BMW region a maximum of 60% of the cost of preparing a Feasibility Study, subject to the overall limit of €6,350 in the case of a single project is available. For the S&E region rates are 50% of the cost up to a maximum of €5,100.
Q. How does a Capital Grant Work?
A. A Capital Grant can be obtained towards the purchase of equipment, construction of a workspace/ factory, or the refurbishment and fit out of an existing building. In the BMW region, a Capital Grant up to a maximum of 50% of eligible investment or €75,000 applies. Any portion of a grant which exceeds 40% of eligible fixed assets must be in refundable form. In the S&E region a Capital Grant up to a maximum of 50% of eligible investment or €75,000 applies. Any portion of a grant which exceeds 35% of eligible fixed assets must be in refundable form. Capital Grants for the purchase/acquisition of buildings are not available.
Q. Explain Employment Grants
A. Employment grants up to a maximum of €7,500 per employee for up to 10 employees may be awarded to qualifying new/expanding enterprises in lieu of capital grants but only in cases where it can be clearly demonstrated that labour shortages do not exist. An Employment Grant is paid in two parts. The firstmoiety of the grant is paid when the person is taken on (on a full-time basis) and registered with the Revenue Commissioners. The second moiety is payable six months later, if the person is still in full-time employment. Employers will be required to show that the employee has been registered and is being returned for Income Tax. The rate of €7,500 per job applies in both the BMW and the S&E regions.
Q. How does Equity Finance work?
A. Boards are authorised to support companies through the purchase of shares, provided the normal criteria for eligibility and limits for a Capital Grant are met. Any amounts representing dividends or other money received by the Board in respect of shares purchased, taken or subsequently sold under this heading will be retained by the Boards for local redistribution.
