The Top Small Business Grants Available in Ireland Right Now

by | Mar 6, 2023 | Uncategorized | 0 comments

As a small business owner in Ireland, finding funding can be a challenge. Fortunately, there are various small business grants available to help you get the financing you need to grow your business. In this article, we’ll take a look at the top small business grants available in Ireland right now, along with their eligibility criteria, application processes, and funding amounts.

 

  • Trading Online Voucher Scheme
  • Enterprise Ireland’s Agile Innovation Fund
  • Microfinance Ireland
  • Local Enterprise Office Grants

Trading Online Voucher Scheme

The Trading Online Voucher Scheme is an initiative from the Irish government aimed at helping small businesses establish an online presence. The scheme offers grants of up to €2,500, which can cover up to 90% of the cost of developing an e-commerce website or upgrading an existing one. To be eligible for the scheme, your business must:

  • Have 10 or fewer employees
  • Have an annual turnover of less than €2 million
  • Be trading for at least 6 months
  • Be located in a region covered by the scheme

Enterprise Ireland’s Agile Innovation Fund

The Agile Innovation Fund from Enterprise Ireland is designed to support product, process, or service innovations in small businesses. The fund offers grants of up to €150,000, covering up to 50% of eligible project costs. To be eligible for the fund, your business must:

  • Have fewer than 250 employees
  • Have a turnover of less than €50 million
  • Have the capacity to commercialize the proposed innovation
  • Be able to provide matching funding

Microfinance Ireland

Microfinance Ireland is a government-backed initiative that provides loans to small businesses that may not be able to secure funding from traditional lenders. The organization offers loans of up to €25,000, with terms of up to 3 years. To be eligible for a loan, your business must:

  • Have fewer than 10 employees
  • Have an annual turnover of less than €2 million
  • Be unable to secure funding from a traditional lender
  • Be able to demonstrate that the loan will support the growth of the business

Local Enterprise Office Grants

The Local Enterprise Offices (LEOs) provide a range of grants and supports to small businesses in Ireland. The specific grants available vary depending on the region, but can include:

  • Feasibility study grants: These grants are designed to help small businesses determine the viability of a new product or service. They can cover the cost of market research, feasibility studies, and other related expenses.
  • Priming grants for start-ups: These grants are intended to provide early-stage funding to start-ups to help them get off the ground. They can cover expenses such as salaries, rent, and equipment.
  • Business expansion grants: These grants are aimed at established businesses that are looking to grow and expand. They can cover expenses such as marketing, research and development, and capital expenditures.
  • Export assistance grants: These grants are designed to help small businesses develop and expand their export markets. They can cover expenses such as market research, trade show attendance, and translation services.

 

To be eligible for LEO grants, your business must:

  • Have fewer than 50 employees
  • Have an annual turnover of less than €10 million
  • Be located in the relevant LEO region



  • What’s the highest grant you can get?

The highest grant amount available varies depending on the grant program and the location of your business. Some grants can provide up to €150,000, while others may offer smaller amounts.

  • How often do grants get rejected?

Grants can be competitive, and not every application will be successful. The rejection rate varies depending on the program, but it is important to thoroughly research the eligibility criteria and application process before applying.

  • Can I get help from the government to start my own business?

Yes, the Irish government offers several grants and supports for small businesses, including those just starting out.

  • What is the most popular grant?

The most popular grant can vary depending on the needs of the business, but the Local Enterprise Office Grants are a common choice for small businesses looking for funding and support.

 

Conclusion

Small business grants can be a valuable source of funding for entrepreneurs looking to start or grow their businesses. Whether you’re looking to establish an online presence, develop a new product or service, or simply need a cash injection to support your growth, there are various grants available to help. Be sure to review the eligibility criteria carefully, and prepare a strong application that demonstrates the potential impact of the funding on your business. With a little bit of luck and a lot of hard work, you could be on your way to securing the funding you need to take your business to the next level.