Financial Support and Grants for Dublin City Micro-enterprises
Explore various financial supports and grants available for micro-enterprises in Dublin City through the Local Enterprise Office. Eligible businesses can access funding for feasibility studies, business development, and job creation, with specific criteria outlined for each grant. Take advantage of these opportunities to drive innovation and growth in your niche market business within the Dublin City Council area.
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Presentation Transcript
Micro Enterprise Financial Supports Eibhlin Curley Oifig Fiontair iti il Chathair Bhaile tha 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 nich 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) 3rdparty 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 Grants over 20,000 0% refundable 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
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