Financial Incentives / Grants
Limerick City Enterprise Board was set up as a local enterprise advisory and support agency. We are, in effect, the first port of call for anybody seeking advice. The Board is also a grant giving agency and may assist suitable enterprise projects which fit into the Board's Enterprise Plan. Applications for assistance may include companies in the services, manufacturing and internationally traded service area, companies with employment potential of up to ten persons.
What are the criteria for assistance?
What is a feasibility/innovation grant?
Explain the Business Expansion grant ?
How do I go about making an application?
If I find it difficult to fill the form, where can I get assistance?
If I am still at the ideas stage, can I discuss it with Limerick City Enterprise Board?
Can I be guaranteed that my ideas will be kept confidential?
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Q: What are the criteria for assistance?
A: Projects must be in the commercial sphere and must, in general, be capable of attaining economic viability without ongoing Exchequer or EU assistance. In particular, project promoters should be able to demonstrate that:
There is market for the proposed product or service
Adequate overall finance will be available to fund the project
They posses the management and the technical capacity to implement the proposed project.
Projects to be assisted should add value so as to generate income or supplement income for those involved and should have the capacity to create new direct employment either full/part time/seasonal or should at a minimum contribute directly to the maintenance of employment in existing small enterprises.
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Q: What grants are available?
A: The Enterprise Board has has a range of financial supports available from January 2010 as follows:
Feasibility/Innovation Grants ( up to 50% of the cost, maximum €20,000 )
Priming Grants for new Businesses or Business Trading less than 18 months
Business Expansion Grants for Business Trading more than 18 months
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Feasibility/Innovation Grants are designed to assist the promoter with researching market demand for a product or service and examining it’s sustainability It includes assistance with innovation including specific consultancy requirements, hiring of expertise from third level colleges, private specialists, design, patent costs, and prototype development.
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The maximum Feasibility / Innovation Grant payable for the South and East Region must not exceed 50% of the investment or €20,000 whichever is the lesser. The maximum Feasibility / Innovation Grant payable for the BMW Region must not exceed 60% of the investment or €20,000 whichever is the lesser.
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Q: How does a Priming grant work?
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A Priming Grant is a business start-up grant, available to micro enterprises within the first 18 months of start-up. Priming grants may be available for sole traders, partnerships, community groups or limited companies that fulfil the following criteria |
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· Located within the CEB’s geographic area; · A business which on growth may or may not fit the Enterprise Ireland portfolio; · A business employing up to 10 employees · A Manufacturing or Internationally traded services business · A Domestically traded services business with the potential to trade internationally. · A domestically traded services business being established by a female returning to the workforce or unemployed persons where the potential for deadweight and displacement does not exist”. |
Q. How does a Business Expansion Grant Work?
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The Business Expansion grant is designed to assist the business in its growth phase after the initial 18 month start-up period. Micro enterprises that have availed of a Priming Grant are ineligible to apply for a Business Expansion Grant until 18 months after the final drawdown date of the Priming Grant, except in exceptional circumstances.
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Business Expansion grants may be awarded to sole traders, partnerships, community groups or limited companies that fulfil the following criteria
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· Located within the CEB’s geographic area;
· A business, which, on growth, may or may not have the capacity to fitthe Enterprise Ireland portfolio
· A business employing up to 10 employees
· A Manufacturing or Internationally traded service business
· A Domestically traded service business with the potential to trade internationally.
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Q: How do I go about making an application?
A: Initially promoters should contact the Board to discuss their proposal. An application form & further details may then be submitted. [ Return to Top ]
Q: If I find it difficult to fill the form, where can I get assistance?
A: Limerick City Enterprise Board staff are more than willing to help promoters to fill in their application forms.
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Q: If I am still at the ideas stage, can I discuss it with Limerick City Enterprise Board?
A: Anyone with a business idea, regardless of what stage they are at, can discuss it with the Enterprise Board. If the idea/project is then thought to be suitable for grant aid from the Enterprise Board, an application can be made. If not, the Limerick City Enterprise Board may refer the person to some other agency/body who can provide assistance.
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Q: Can I be guaranteed that my ideas will be kept confidential?
A: Any discussion between the Limerick City Enterprise Board and potential promoters is in the strictest confidence.
