The Requirements for Applying for Small Business Grants in Ireland

by | Mar 3, 2023 | Uncategorized | 0 comments

Starting a small business in Ireland can be an exciting venture, but it can also be expensive. Fortunately, there are numerous grants available to help entrepreneurs and small business owners with start-up costs, research and development, and more. However, the requirements to qualify for these grants can be quite specific. In this article, we will provide an overview of the various types of grants available in Ireland, their requirements, and the steps to apply for them.

Grants Available for Small Businesses in Ireland

There are several grants available in Ireland for small businesses, including:

  • Local Enterprise Office Grants: Financial assistance from Local Enterprise Offices (LEOs) for businesses with ten or fewer employees.
  • Enterprise Ireland Grants: Grants offered by Enterprise Ireland, a government agency that supports Irish businesses in various sectors, including manufacturing, technology, and food.
  • Microfinance Ireland Loans: Loans available for small businesses that may not have access to traditional bank funding.
  • Innovation Vouchers: Vouchers worth up to €5,000 available for small businesses to partner with a knowledge provider and access expertise to develop new products and services.

Grants for Start-up Businesses

Yes, there are grants available in Ireland specifically designed to help start-up businesses. These grants are generally aimed at businesses that are less than three years old and are still in the early stages of development.

Types of Grants

There are four main types of grants available in Ireland for small businesses:

  • Feasibility Study Grants: Grants that provide funding for businesses to investigate and assess the viability of a new product or service.
  • Priming Grants: Grants that provide funding to help businesses start or expand operations.
  • Business Expansion Grants: Grants that provide funding to help businesses expand their products or services, enter new markets, or develop new technologies.
  • Research & Development Grants: Grants that provide funding to support businesses in conducting research and development activities.

Applying for Small Business Grants in Ireland

To apply for a small business grant in Ireland, you will need to follow these general steps:

  • Research the available grants and determine which ones you are eligible for.
  • Prepare a business plan and gather all necessary documents, such as financial statements and tax returns.
  • Complete the grant application form and submit it with all required documents.
  • Wait for the grant application to be reviewed and approved.

Maximum Amount of Grants Offered by Enterprise Ireland

The maximum amount of funding offered by Enterprise Ireland varies depending on the type of grant. However, most grants range from €5,000 to €150,000.

How to Get Funding for Your Business with No Revenue

If your business has no revenue, you may still be able to get funding through grants or loans. However, you will need to have a solid business plan and show that you have the potential for growth and profitability.

Repaying a Grant

Most grants in Ireland do not need to be repaid. However, some grants may require you to repay a portion of the funding if you do not meet certain conditions.

It’s important to note that the application process for each grant may vary, so be sure to carefully review the requirements and instructions for each grant before applying.

Conclusion

Small business grants can be a great way to get the funding you need to start or grow your business in Ireland. However, it’s important to meet the requirements and follow the application process carefully to ensure the best chances of success. By following the