independent

Wednesday 14 November 2018

Enterprise Ireland provide funding & support

Business Q&A

Enterprise Ireland is the state agency responsible for supporting the development of manufacturing and internationally traded services companies. They provide funding and supports for companies & entrepreneurs at different stages of development. Enterprise Ireland also provide funding and supports for college based researchers to assist in the development, protection and transfer of technologies into industry via licensing or spin-out companies.

Company Supports Available from Enterprise Ireland include: Business Start up Idea; High Potential Start up Funding; Established SME Funding (more than 10 employees); Large Company funding (more that 250 employees); Business Start-up

New Frontiers Entrepreneur Development Programme: Run in partnership with the Institutes of Technology, this programme is designed to support entrepreneurs with innovative business ideas who are planning to establish and run their own company. A range of supports including mentoring, incubation space and a €15,000 scholarship payment are provided to help accelerate the development of the business and to equip the promoter(s) with the skills and contacts needed to successfully start and grow the company.

Local Enterprise Office (LEO): This provides advice, information and support to you in starting up or growing your business. A number of supports are available for start-ups including: Start your own business training courses, Market research information, Business planning advice, feasibility and development grants and mentorship programmes. The Wexford local enterprise office number is 053 9196020 or you can log onto www.localenterprise.ie for support information.

High Potential Start-Up (HPSU) Funding: Enterprise Ireland is responsible for supporting High Potential Start-Up (HPSU) Companies. HPSUs are start-up businesses with the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and €1m in sales within 3 to 4 years of starting up. HPSU clients of Enterprise Ireland should contact their Enterprise Ireland Adviser to discuss funding supports on 01 7272000 or www.enterprise-ireland.com

Established SME Funding: Supports & programmes are available for established small and medium sized enterprises in the manufacturing and internationally traded services sectors. An Established SME client is a company that is not a HPSU client, has an established trading record, employs between 10 and 250 employees, has either an annual turnover of less than €50m or an annual balance sheet of less than €43m.

Large Company Funding: Enterprise Ireland also supports and has programmes for large companies in the manufacturing and internationally traded services sectors. A large company is a company that employs greater than 250 employees, has either an annual turnover of greater than €50m or an annual balance sheet of greater than €43m.

Note: Previous funding approved by Enterprise Ireland may impact on your eligibility for the following supports. Please consult with your Enterprise Ireland Adviser (DA) to discuss.

Funding decisions for SME's are determined by:

- Need for financial support for the project

- Potential employment and sales growth

- Previous funding provided to the company

- Regional location of the company

For more information on how to develop your business contact Jim Doyle on 053 9170507 or email jim@rda.ie

Wexford People

Most Read

News