Financial Assistance
The Enterprise Board offers direct support to small enterprises through the provision of financial assistance. To be eligible for financial assistance a project must meet the following requirements:
- The proposed employment level must not exceed 10 people
- The project must be capable of achieving commercial viability without continuing EU and State support
- Add value to a product, process or service so as to generate or supplement the income of those involved
- Not displace or put at risk any existing enterprises or industry
- Not be in receipt of substantial funding from any other state agency or programme
- Comply with existing policies on tax and certification matters
Priority for grant aid will be given to:
- Projects in manufacturing or internationally traded services which over time can develop into strong export entities and graduate to the Enterprise Ireland Portfolio;
- Tourism projects aimed predominantly at overseas visitors;
- Locally provided services promoted by the unemployed, those recently made redundant, and women re-entering the workforce, which will contribute to both national competitiveness and local development but will avoid deadweight or displacement.
If you are interested in applying for financial grant aid, please contact a Business Advisor in Westmeath County Enterprise Board at 044-9349222. Financial assistance can be provided to the client in the following formats:
1. Priming Grants For Businesses Trading < 18 months.
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.
- Located with Westmeath CEB geographical 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.
The maximum Priming Grant payable must not exceed 50% of the investment or €150,000 whichever is the lesser.
Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally.
In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser.
Subject to the 50% limit, a maximum grant of up to €7,500 per full time job created shall apply in respect of any employment support grant aided.
Expenditure may be considered under the following headings :
Capital Items - including fit out of workspace, office equipment, machinery, computer costs. (Note : acquisition of building and purchase of mobile assets are excluded from grant aid)
Salary Costs. For first year of employment. A maximum €7,500 grant support per full time job created.
Rental / Accomodation Costs. For first year of project.
Utility Costs. These include installation costs for telephone & broadband. (Note mobile phone costs are excluded)
Marketing Costs. These include packaging, brochures, trade fairs, website design and development, and other marketing initiatives.
Consultancy Costs. These include design fees, patent costs, architect, accountant and legal fees.
Business Specific Training. Costs here refer to specialised management or key personnel training programmes that are required to ensure the growth of the business. Such courses should not be generally available under the Boards genearl training programme.
2.Business Expansion Grants For Businesses Trading > 18 months
The Business Expansion Grant is designed to assist the business in it's growth phase after the inital 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.
Business Expansion Grants may be awarded to sole traders, partnerships, community groups or limited companies that fulfil the following criteria.
- Located within Westmeath CEB geographical area.
- A business which, on growth, may or may not have the capacity to fit the Enterprise Ireland portfolio.
- A business employing up to 10 employees.
- A Manufacturing or Internationally traded services business
- A Domestically traded service business with the potential to trade internationally.
The maximum Business Expansion Grant payable must not exceed 50% of the investment or €150,000 whichever is the lesser.
Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally.
In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser.
Subject to the 50% limit, a maximum grant of up to €7,500 per full time job created shall apply in respect of any employment support grant aided.
Expenditure may be considered under the following headings :
- Capital Items - including fit out of workspace, office equipment, machinery, computer costs. (Note : acquisition of building and purchase of mobile assets are excluded from grant aid)
- Salary Costs. For first year of employment. Maximum grant aid of €7,500 per new full-time job created.
- Rental / Accomodation Costs. For first year of project.
- Utility Costs. These include installation costs for telephone & broadband. (Note mobile phone costs are excluded)
- Marketing Costs. These include packaging, brochures, trade fairs, website design and development, and other marketing initiatives.
- Consultancy Costs. These include design fees, patent costs, architect, accountant and legal fees.
- Business Specific Training. Costs here refer to specialised management or key personnel training programmes that are required to ensure the growth of the business. Such courses should not be generally available under the Boards general training programme.
3.Feasibility / Innovation Grants
Feasibility / Innovation Grants are designed to assist the promoter with researching market demand for a product or service and examining its 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.
The maxiumum Feasibility / Innovation Grant payable for the BMW Region (Including Westmeath) must not exceed 60% of the investment or €20,000 whichever is the lesser.
Expenditure may be considered under the following headings :
- Innovation Costs : Costs under this category may include prototype development, innovative design, research costs, patent costs, and third level college consultancy.
- Own Labour Research. Costs under this category may include own labour involved in carrying out research / prototype development. (Please note that own labour research can not be paid to those in receipt of a social welfare payment) The maximum amount chargeable under this category is €400 per week subject to the overall maximum under this category not exceeding 20% of the overall grant drawdown.
- Consultancy Costs. These include design fees, architect, accountant and legal fees.
- Miscellaneous Costs. This may include telephone costs, mileage costs at €0.26 per kilometre, subsistence & overnight costs, air travel etc. The overall maximum drawdown in this category should not exceed 20% of the overall grant level.
(Note payments to state bodies including local authorities are excluded)
Additional Grant Aid Programmes from Westmeath CEB
1.Website Development Grants
Westmeath County Enterprise Board is offering website development grants for a limited period to enable businesses create a new website or upgrade an existing website. The grant available maybe offered at a rate of up to to 50% of the eligible cost to a maximum of €1,000 for websites with a sell on line facility and that businesses with a brochure website would receive 50% of the cost to a maximum of €500.
The Following Criteria will apply:
- Requests for grant aid must be accompanied by a quotation and proposal from a registered business and completed application form. (Available to download here)
- Applications will only be accepted from registered businesses employing less than 10 people
- The business must have sufficient capacity to warrant a website
- All works must be carried out by a registered website provider
- Work must not have commenced on the website prior to application being approved
- In the case of businesses who wish to upgrade their website, application must be accompanied by a hardcopy of their current website.
Payment will be made on receipt of:
- Hard copy of Website
- Proof of payment to Web Provider
Please note Website Grants are available on a first come first served basis.
2.Trade Fair Grants
Trade Fair Assistance may be made available to eligible businesses to exhibit at relevant national and international exhibitions and shows. A maximum grant of 50% of the eligible costs (excluding VAT) subject to a maximum of €1,000.00 is available.
Businesses must consult with the Enterprise Board prior to the event, and submit details of their business, of the Trade Show they are exhibiting at, including cost, location and relevance to business. Application Forms are available to download here.
If approved, promoters must furnish the Board with evidence of payment and a brief progress report on the trade show.
3.Mentoring Grants
A Business Mentoring Service is also available to small businesses who wish to obtain professional third party business advice through a panel of business mentors, who specialise in areas such as taxation, marketing, retail, human resources and finance.
Financial assistance is available for this service from Westmeath County Enterprise Board up to a maximum of €1,000.00
A Directory containing the details and specialised areas of all Approved Business Mentors is available from Westmeath County Enterprise Board or by clicking here. You are advised to meet with a Business Advisor prior to applying for the mentoring programme. Business Advisors can be contacted by calling the Enterprise Board offices at 044-9349222.
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