What are the grant resources available to growing Irish SMEs that want to expand and grow their businesses?
Accelerated Capital Allowances
Provides tax relief for investments in energy-efficient equipment, helping businesses reduce costs and improve sustainability.
Businesses can claim a deduction of 100% of the cost of the qualifying equipment against their corporation tax or income tax in the first year they use it. This significantly reduces their taxable income, resulting in lower taxes owed.
Access Advice: Digital Discovery
Supports companies in developing digital plans and introducing new technologies to enhance efficiency and customer experiences.
Up to 80% grant funding to a max amount of €5,000.
Business Expansion Grant
Assists SMEs in the growth phase post-start-up, offering financial support for scaling operations and expanding market reach.
Firms can get up to 50% of eligible expenses, to a maximum of €150,000.
Commercial Horticulture Scheme
Aids the horticulture sector, including beekeeping, by funding capital investments in specialized plant and equipment.
Grant aid shall be paid at the maximum rate of 40% on the accepted net cost of investments approved and completed to the satisfaction of the Department.
Young Farmers and Registered Organic Growers shall be paid at a maximum rate of 50% on the accepted net cost of investments approved and completed to the satisfaction of the Department provided the specific eligibility requirements for each group being met.
Closing date for receipt of applications is Friday 13 December 2024.
Enterprise Ireland Innovation Voucher
Provides funding for SMEs to collaborate with public knowledge providers to explore business opportunities or solve technical problems.
Up to 50% of eligible expenses, to a maximum of €150,000.
Feasibility Study Grant
Supports SMEs in researching and developing new products or services, covering costs like market research, prototype development, and consultancy fees. A significant portion of costs directly related to the feasibility study may be covered.
Lean Business Offer
Helps SMEs improve competitiveness and productivity through lean methodologies, offering financial support for training and consultancy. Supports include workshops, training sessions, mentorship and access to a lean consultant.
Market Discovery Fund
Assists SMEs in researching new markets, covering costs related to market research, trade visits, and promotional activities. 50% of your costs covered, up to a maximum of €150,000. There are four levels of funding available depending on your company’s size and number of employees
Operational Excellence Offer
Provides funding for SMEs to implement operational improvements, focusing on efficiency, quality, and cost reduction. Up to 70% of the eligible costs for a change project with a minimum spend of €100,000.
Strategic Consultancy Grant
Supports SMEs in hiring external consultants to develop strategic growth plans, covering areas like market analysis, financial planning, and business strategy. Financial help to cover the cost of external expert consultants.
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Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
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