Securing funding and grants can significantly impact Small and Medium Enterprises (SMEs) aiming to expand operations and enhance their market presence. Enterprise Ireland, a key agency supporting Irish businesses, offers a range of funding options designed to drive growth, innovation, and international expansion. Here’s an overview of some key grants available to SMEs:

1. Employment Funding Support

Purpose: Employment funding support helps SMEs create new jobs and drive expansion, focusing on projects with the potential to boost international trade and enhance business growth.

What is Provided:

• Grant support for recruiting a minimum of three new employees.
• The maximum grant per employee: is €15,000.

Usage:

• This funding supports the growth of companies by facilitating the recruitment of new staff, specifically targeting projects that promise significant job creation.

Grant Rates:

• The support rate varies up to €15,000 per job.
• Minimum grant approval is €20,000.

Regional Aid Rates:

• Assisted Area A: Small enterprises 35%, Medium 25%, Large 15%.
• Assisted Area B: Small enterprises 30%, Medium 20%, Large 10%.
• Non-Assisted Area: Small enterprises 20%, Medium 10%.

Note: Regional Aid to large enterprises is contingent on new business activities or new establishments in assisted areas.

More information here

2. Market Discovery Fund

Purpose: The Market Discovery Fund is designed for businesses looking to explore and enter new geographic markets or introduce new products. It provides resources to research and develop sustainable market entry strategies.

What is Provided:

• Up to 50% of eligible expenditure, with grants ranging from €35,000 to €150,000.
• Four levels of funding are based on company size and employee numbers.

Usage:

• Covers costs related to market research, including consultancy, travel, and market analysis.
• Projects can last up to 18 months.

Grant Levels:

• Level 1: Up to €35K for HPSUs and SMEs with at least 5 employees.
• Level 2: Greater than €35K but less than €50K for HPSUs, SMEs with 5+ employees, and large companies.
• Level 3: Greater than €50K but less than €75K for HPSUs with 5+ employees, SMEs with 10+ employees, and large companies.
• Level 4: Greater than €75K but less than €150K for SMEs with 10+ employees and large companies.

Sales and marketing activities are not eligible for support.

More information here

3. Key Manager Support

Purpose: Key Manager Support assists businesses in attracting senior leadership talent essential for driving significant change and growth.

What is Provided:

• Salary costs up to €150,000 per annum for a full-time Key Manager.
• For part-time roles, the maximum salary ranges from €75,000 to €150,000.
• Companies can receive up to two Key Manager approvals within a rolling 12-month period.

Usage:

• Supports positions that contribute to measurable improvements in productivity or market performance, such as CFO, CTO, or R&D Manager.

More information here

4. Digital Marketing Capability

Purpose: To enhance a company’s digital presence and connect with a broader audience, this grant helps in developing effective digital marketing strategies.

What is Provided:

• Grant funding of 50% of eligible project costs, up to €70,000 (€35,000 grant).
• Typically used for projects lasting 8-12 months.

Usage:

• Engaging digital marketing consultants.
• Strategic reviews and development of digital marketing strategies.
• Training for senior management in digital marketing.

More information here

5. Training Funding Support

Purpose: Training Funding Support is aimed at increasing company competitiveness by investing in the development of management and staff.

What is Provided:

• Grants for strategic training projects to address skills gaps.

Usage:

• Training in leadership, strategy, change management, operational effectiveness, and decarbonisation.
• Focuses on improving productivity and operational performance.

Eligibility:

• Available to Enterprise Ireland client companies investing in leadership and operational capability.

More information here

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