Funding available now!
Dublin City Enterprise Board (DCEB) is the lead agency offering business support to small business in the capital of Ireland. Funded by central government and the EU it offers business mentoring, training and financial support to micro-businesses in Dublin City.
This guest blog is written by Eibhlin Curley, deputy CEO of the enterprise board.
Dublin City Enterprise Board’s priority is to support job creation through focusing on supporting manufacturing companies and innovative businesses, and enabling companies to export.
Eligibility for financial support
Training and business mentoring is available to all businesses BUT financial assistance is available to certain types of businesses.
Irish businesses that are eligible for support are
– businesses that export a product or service, e.g. sell technology software outside Ireland
– that manufacture an innovative product in Ireland
– tourism businesses that offer services to visitors in Ireland
DCEB assists small businesses with 10 employees or less based in Dublin city. We can help, owner managers of established businesses, start up businesses and people thinking of starting a business.
You must be creating at least one new full-time paid position to be eligible for funding.
Types of financial support available
Business Development funding is available for established businesses. Funds can be used towards new employee salaries, marketing and manufacturing equipment and fit-out costs. The Business Development financial support is partly refundable (50% to be paid back, previously 66%).
Priming funding is for new businesses (trading less than 18 months) and may fund salaries, marketing and equipment costs. The Priming financial support is partly refundable (33% to be paid back).
Feasibility/ Innovation grants support prototype development, market research and patent costs (a grant that is not refundable though requires match funding).
The average size of financial supports from the Dublin City Enterprise Board is Business Development €20,000, Priming €12,000 and Feasibility €7,500 – all depending on the number of new jobs created.
Application process for financial support (also check www.dceb.ie )
An application form and the Promoter’s CV are required for feasibility study/ innovation grant applications. In the case of Priming and Business Development funding a Business Plan, Promoter’s cvs, 12 month projected cashflow and 3 years of projected Profit & Loss accounts are required. For existing business the applicant must submit their most recent annual accounts.
The applicant must make a strong case and provide as much evidence as possible of commercial viability, job creation and export potential. A business mentor may be utilised in putting together the business plan and application.
Assessment of funding applications
Each application is reviewed by an evaluation committee which meets every month. Recommendations are made whether the application should be rejected, deferred (if they need clarification on particular issues) or approved. Terms and conditions may be attached to an approval. The Board of Directors make the final decision on approving financial support.
Financial support “Claims”
A Tax Clearance Certificate is required for all payments.
Support for salaries
Payments towards salary costs are based on payslips of full-time employees. The payment is paid in two instalments. The first month’s payslip of the new employee and the second instalment is paid on the 6 month’s payslip.
All other approved expenses are paid on a receipts basis (excluding VAT), after the Board approval date and before the expiry date of the financial support offering. No retrospective expenses are paid for costs incurred before the Board approval date.
Summary
Dublin City Enterprise Board financially supports niche market businesses
involved
– in manufacturing, innovative services or exporting.
– they can be pre-start or well established companies
– employing less than 10 people
– at least one new full-time job must be created
– must be based in Dublin city
For full details about financial assistance and other DCEB supports check out www.dceb.ie or telephone 01 635 1144
Note: Dublin City Enterprise Board is funded through the Department of Jobs, Enterprise and Innovation and EU Structural Funds
For other information on managing your business, contact Billy Linehan of Celtar [email protected]
For information about doing business in Ireland, look at
https://celtar.ie/staging/staging/business-resources-in-ireland/
and
