In this post PayPak Payroll has selected a number of grants and schemes helping Irish businesses keeping their doors open during the Covid-19 crisis. Currently there are over 170 different government supports available for Irish start-ups and small businesses. Finding the right support for your business can be overwhelming so this information will help you to get started.
Starting Point
A good starting point for finding grants and supports that suit your business is this SMEs Online Tool, provided by the Irish Government.
Filter all supports available by location, business size, type of support required and business sector.
The Department of Business, Enterprise and Innovation also provides an excellent overview of general financial support available to Irish SMEs.
Click here for a list of “Return to Work Safely” supports and sector specific Covid-19 resources – financial and educational.
Grants, Business Loans and Financial Support
Your Local Enterprise Office is your first stop shop for advice and support on all aspects of running a successful business.
Here you find information and news on financial support programmes, mentoring and trainings available for businesses of all sizes.
Local Enterprise Offices can help your business through the COVID-19 pandemic with tailored supports like the “Trading Online Voucher Scheme”. This scheme pays up to €2,500 and is available to small businesses with up to 10 employees who want to move their business online.
COVID-19 Wage Subsidy Scheme
The Temporary COVID-19 Wage Subsidy Scheme allows employers to continue to pay their employees during the COVID-19 emergency. It aims to keep employees registered with their employers, so that they will be able to get back to work quickly after the pandemic.
The scheme will run until the end of August 2020.
COVID-19 Business Loan
The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses negatively impacted by the COVID-19 pandemic.
Businesses with less than 10 full time employees and an annual turnover of less than €2m are eligible if they are not in a position to apply for loans provided by commercial lenders.
This Loan fund is currently fully subscribed but you can pre-register for a future application that will be processed as soon as new funding is made available.
Covid-19 Working Capital Loan Scheme
The Strategic Banking Cooperation if Ireland provides low-cost credit to Irish SMEs.
Click here for more information on the SBCI Covid-19 Working Capital Scheme, which is offered in partnership with the Department of Business, Enterprise and Innovation and the Department of Agriculture, Food and the Marine, and is supported by the InnovFin SME Guarantee Facility with the financial backing of the European Union under Horizon 2020 Financial Instruments.
Enterprise Ireland provides a number of specialised emergency funds to help Irish businesses adjust to the “new normal”:
- Business Financial Planning Grant – Business Financial Planning grant will provide a strategic intervention for companies to work with third party consultants to prepare a detailed financial and business plan with forecasts and assumptions.
- Sustaining Enterprise Fund – Support of up to €800,000 can be provided to companies who have been negatively impacted by Covid 19.
- Sustaining Enterprise Fund – Small Enterprise – This fund will provide a €25k to €50k short term working capital injection to eligible smaller companies to support business continuity and strengthen their ability to return to growth and be trading strongly in 3 years time.
- Lean Business Continuity Voucher – The Lean Business Continuity Voucher is available to eligible companies to access up to €2,500 in training or advisory services support related to the continued operation of their businesses during the current pandemic.
- Online Retail Scheme – Please note this scheme is now closed
- Innovative HPSU fund – Enterprise Ireland established the Innovative HPSU Fund to support the start-up and development costs of High Potential Start-Up companies.
- Key Manager / Part Time Key Manager Support – The aim of this initiative is to provide partial funding towards the cost of recruiting a Full Time or Part Time Key Manager with skills that are critical to the future growth of the business.
- Strategic Consultancy Grant – designed to facilitate business growth as the consultants can act as coach, mentor, facilitator, analyst, negotiator and/or operator for the company.
Mentoring and Skill Building
Enterprise Ireland also provides skill building and business competence programmes designed to grow your business and succeed in an international market.
Tap into Enterprise Ireland’s network of entrepreneurs and established business leaders and apply for their Enterprise Ireland Mentoring Grant.
