Finance and Funding
The LEOs provide a range of financial supports to assist in starting or growing a business. The Supporting SMEs Online Tool provides information on over 80 different Government supports for Irish start-ups and small businesses and helps you locate supports that you could possibly apply.
Microfinance Ireland is a not-for-profit lender that was established to deliver the Government’s Microenterprise Loan Fund. The company works with the Local Enterprise Offices (LEOs) nationally and provide loans for small businesses with fewer than 10 employees and an annual turnover of less than €2m. They offer loans of between €2,000 and €25,000 for a term of 3-5 years for commercially viable proposals that have been refused credit by banks. Full details on eligibility, application process and case studies are available on their website.
The Revenue Commissioners are responsible for the assessment and collection of taxes and duties and the website provides details of all aspects of taxation. Under the Business & Self Assessment section, you will find direct links to all the information you are likely to need about tax issues for running a business, self employment and employing other people. If you are starting a business and decide to employ staff you must register for PAYE and PRSI with the Revenue Commissioners.
CAVA offer free advice service for business people who may not be able to afford to pay an accountant’s fee. Many CAVA advice clinics take place in public libraries around the country. Please enquire at your local library.
MABS is the State’s money advice service with expertise in personal and consumer debt. They can provide limited help with debt arising from a sole trader or partnership business but cannot provide advice on company debts or a business’s accounts.
Horizon 2020 is an EU programme for research and innovation and is part of the EU’s drive to stimulate growth and jobs in Europe. It runs from 2014-2020. Full details on the Horizon 2020 website.
The EU provides a number of supports to European SMEs including grants, loans and guarantees as well as non-financial support through programmes and business support services. The European Commission (EC) has created an overview of the campaigns and projects aimed at sharing best practices and exchanging ideas among entrepreneurs.
The European Portal for SMEs will help you find information on EU financial supports.
Enterprise Europe Network (EEN)
The Enterprise Europe Network is steered by the European Commission’s Directorate-General for Enterprise and Industry. It’s remit is to help businesses make international connections, compete and thrive internationally. The EEN provides information, advice and support for clients on accessing European Research and Development grants.