Government supports ROI - ..rteredaccountants.ie

The COVID-19 pandemic has struck hard at many sectors of business. Most will find a way through the crisis through a combination of perseverance, innovation and ingenuity. Accountants, with their expertise in financial planning, accessing finance, restructuring businesses, and applying for state aid are at the forefront of helping businesses. Accountants should develop an expertise and a familiarity with these resources.

To support our members, we have put in place a range of information. As most businesses will need finance, access and availability of adequate and timely finance will be crucial to the economic recovery going forward. On this page we provide a guide to the broad and expanding range of capital supports available. Some are schemes offering working capital loans or grants; others are for industry sectors particularly hard hit by the crisis.

We have gone through the key supports available and categorised them in a format that is useful to an accountant seeking to identify the most appropriate form of finance. Please note that this list is not comprehensive and that the supports available are constantly changing. Members are advised to keep an eye on developments and refer to the source documentation where necessary.

Last updated: 10 December 2021

Tax

We continue to update the Temporary Wage Subsidy Scheme page and the Latest Updates webpage as new changes emerge.

Supports for Taxpayers and Agents (ROI)

Revenue Commissioners: measures in response to COVID-19
Continue to file tax returns on time and engage with Revenue. That is the advice to businesses navigating the trading difficulties caused by the impacts of COVID-19. Small and medium enterprise (SMEs) dealing with trading and cash flow difficulties will not have the added worry of statutory interest charges. Revenue announced that interest will not be applied to late tax payments of VAT for the January/February period due by 23 March or employer PAYE liabilities for the months of February and March. Revenue also announced that the payment date for local property tax will be deferred until 21 May for certain homeowners.

COVID-19: reporting and filing compliance
Revenue published guidance on the specific measures introduced for employers and employees regarding compliance with certain reporting and filing obligations and the satisfaction of certain other tax related conditions.

COVID-19: Information and advice for taxpayers and agents
Revenue’s guidance to assist taxpayers and tax agents who are experiencing a range of difficulties caused by the impacts of COVID-19 deals with some of the common queries raised by members. The Institute will continue to engage with Revenue, the Department of Finance and other key government agencies over the coming weeks. We are reporting key updates in our special email bulletins, and all updates are available on our dedicated COVID-19 Hub. The Hub collates information, guidance and supports from across the Institute to keep members informed and help prepare and respond to the challenges presented by COVID-19.

Grants

COVID-19 Business Loan - Microfinance Ireland (MFI)
COVID-19 Working Capital Loan Scheme – Strategic Banking Corporation of Ireland (SBCI)
SME Credit Guarantee Scheme for COVID-19
NEW COVID-19 Credit Guarantee Scheme
Future Growth Loan Scheme – Strategic Banking Corporation of Ireland (SBCI)
Restart Grant for Small Businesses

COVID-19 Business Loan – Microfinance Ireland (MFI)
Purpose	Government initiative to support small businesses through the current period of uncertainty and protect job creation or sustainment in Ireland.
Eligible businesses	Microenterprises (sole traders, partnerships and limited companies with fewer than 10 full-time employees) with: Turnover of up to €2 million A balance sheet not exceeding €2 million which are not in a position to avail of finance from banks or other commercial lending providers.
Amounts	€5,000 – €50,000 (unsecured)
Key conditions	A reduction of at least 15% in actual/projected turnover/profit because of COVID-19, and difficulty sourcing finance from commercial leaders.
Key terms	Up to three-year-term (or up to five years in certain circumstances) No fees or hidden charges No repayments for the first six months Fixed repayments No penalty for early repayment
Interest rate	First 6 months: 0% 4.5% for Local Enterprise Office applications 5.5% for direct applications
Further details	Microfinance Ireland (MFI)

COVID-19 Working Capital Loan Scheme – Strategic Banking Corporation of Ireland (SBCI)
Purpose	Expansion of two SBCI Loan Schemes by €450m to provide an extra €250m for working capital and €200m for longer-term loans to cover future working capital requirements and to fund innovation, change or adaptation of businesses to mitigate the impact of COVID-19.
Eligible businesses	Viable micro and small and medium sized enterprises (SMEs) that meet the eligibility criteria, i.e. Have fewer than 250 employees Have a turnover of €50 million or less (or €43 million or less on their balance sheet) Are independent and autonomous i.e. not part of a wider group of enterprises Have less than 25% of their capital held by public bodies Is established and operating in the Republic of Ireland Viable small mid-cap enterprises, i.e. not an SME but with fewer than 500 employees. Excluded are those which are: involved in the primary agriculture and/or aquaculture sector in financial difficulty (excluding cashflow pressures caused by COVID19 virus impact) bankrupt or being wound up or having their affairs administered by courts have in the last 5 years entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having their affairs administered by the courts convicted of an offence concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interest
Amounts	Loans of €25,000 up to €1.5 million
Key conditions	Loans cannot be used to finance understakings in financial difficulties or refinance existing debt. Negative impact of 15% on turnover/profitability
Key terms	For loans of up to €500,000 no security is required. 1-3 year duration
Interest rate	Max interest rate of 4% Interest rate is fixed for the period of the loan Three-month interest-only payment period available (depending on lender’s assessment of application)

SME Credit Guarantee Scheme for COVID-19
Purpose	Designed to support a range of debt products appropriate to the borrowing needs of SMEs. Term loans and other products such as stocking facilities and performance bonds will be covered Can be used by businesses to obtain loans to support changes they need to make to their business in response to Covid-19 Encourages additional lending to SMEs by providing partial (80%) Government guarantees to banks in order to help SMEs impacted by COVID-19 related issues to have access to sufficient working capital Operated on behalf of the Department of Business, Enterprise and Innovation by the Strategic Banking Corporation of Ireland (SBCI) and is available from the participating lenders (AIB, Bank of Ireland and Ulster Bank)
Eligible businesses	Companies unable to access credit because of: inadequate collateral novel business market, sector or technology which is perceived by lenders as higher risk under current credit risk evaluation practices need for refinancing caused by the exit of an SMEs lender from the Irish market Viable micro and small and medium sized enterprises (SMEs) that meet the eligibility criteria, i.e. fewer than 250 employees turnover of €50 million or less (or €43 million or less on their balance sheet) independent and autonomous i.e. not part of a wider group of enterprises less than 25% of capital held by public bodies established and operating in the Republic of Ireland Viable Small Mid-Cap enterprises, ie. not an SME but has fewer than 500 employees. Excluded are those which are: involved in the primary agriculture and/or aquaculture sector in financial difficulty (excluding cashflow pressures caused by COVID19 virus impact) bankrupt or being wound up or having its affairs administered by courts have in the last 5 years entered into an arrangement with creditors, in the context of being bankrupt or wound-up or having its affairs administered by the courts convicted of an offence concerning professional misconduct by judgement, fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity where such illegal activity is detrimental to the European Union’s financial interest Excluded: Refinancing of existing debts Property-related activities
Amounts	As part of the €7.4 billion business and jobs stimulus the Government will provide an 80% guarantee of credit products from €10,000 to €1 million up to a maximum term of 6 years.
Key conditions	The Credit Guarantee Scheme does not substitute for conventional lending that would otherwise have taken place Businesses seeking to avail of the guarantee scheme can approach a participating lender
Key terms	Terms of up to 7 years
Interest rate	3-6-month interest-only payment period may be available, depending on the total loan duration
Further details	https://dbei.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/Credit-Guarantee-Scheme-COVID-19-FAQ.html

NEW COVID-19 Credit Guarantee Scheme
Purpose	This a new COVID-19 Credit Guarantee Scheme (CGS) - the largest credit guarantee scheme in the history of the State - that will make low-cost loans available to businesses impacted by the pandemic, providing much-needed liquidity as the economy continues to reopen.
Eligible businesses	SMEs, Primary Producers and small Mid-Caps (defined as businesses with up to 499 employees). SMEs are expected to be the main beneficiaries.
Amounts	The amount available under the COVID-19 CGS is €2 billion.
Key Conditions	In order to qualify for the Scheme, the borrower will have to declare an adverse impact of minimum 15% of actual or projected turnover or profit due to the impact of COVID-19.
Key Terms	A guarantee rate of 80% for the State with the lenders retaining 20% of the risk of the loan. The removal of any portfolio cap for individual lenders. A portfolio cap has been a feature of previous CGS. However, the removal of the cap for the COVID-19 CGS is essential in order to ensure lenders provide an interest rate reduction to borrowers and also comply with the Capital Requirements Regulation. The current standard facility size of €10k to €1 million under the current Acts will remain for the COVID-19 CGS. The products covered under the scheme will include a broad range of credit facilities including overdrafts, working capital and term loan facilities. Capital and/or interest moratoria for specific periods of time (up to one year) will be permitted under the Scheme but any decision regarding such moratoria will be at the discretion of the individual lender based on their assessment of their customer.
Further Details	https://dbei.gov.ie/en/News-And-Events/Department-News/2020/July/14072020.html

Future Growth Loan Scheme – Strategic Banking Corporation of Ireland (SBCI)
Purpose	Scheme offered by the Government of Ireland, through the Department of Business, Enterprise and Innovation and the Department of Agriculture, Food and the Marine. Provides loans with a term of 8-10 years to support strategic long-term investment.
Eligible businesses	Eligible SMEs (with employees of up to 250) Small Mid-Cap businesses Primary agriculture (farmers) and Seafood sectors Applications for eligibility are on the SBCI website as follows: SME Business - https://sbci.gov.ie/products/future-growth-loan-scheme/smes-application-form SME Agriculture - https://sbci.gov.ie/products/future-growth-loan-scheme/primary-agriculture-application-form Exclusions can be found here.
Amounts	€100,000 (€50,000 for farmers) to a max of €3 million per eligible business Unsecured loans up to €500,000. The government launched the first €300 million round of the Scheme last year helping 1,150 SMEs, farmers and fishers to date make strategic investments to grow their businesses. This will see the European Investment Bank Group provide an additional €500m for the Scheme, bringing the total investment in the Scheme to €800m.
Key conditions	Operated by the Strategic Banking Corporation of Ireland (SBCI) through participating lenders A Business Plan must be completed as part of the application process for loans of more than €250,000 Applicants must choose loan purpose: Investment in Machinery or Equipment Investment in Research and Development Investment in Business Expansion Investment in Premises Improvement Investment in Process Innovation Investment in People and/or Systems
Key terms	8-10 years term
Interest rate	First 6 months 4.5% for loans up to €249,999 3.5% for loans more than or equal to €250,000 Optional interest-only repayments available in certain circumstances
Further details	Strategic Banking Corporation of Ireland (SBCI)

Restart Grant for Small Businesses
Purpose	To give direct grant aid to micro and small businesses to help them with the costs associated with reopening and reemploying workers following COVID-19 closures.
Eligible businesses	Companies with a turnover of less than €5m and employing 50 people or less which were closed or impacted by at least a 25% reduction in turnover out to 30^th June 2020. This has now been extended to include firms employing less than 250. Enterprises that could not access the original grant scheme, such as B&Bs and rateable sports businesses are eligible for a grant payment.
Amounts	The maximum payment will now be €25,000, increased from €10,000. The minimum payment will be €4,000, increased from €2,000. As part of the Government's €7.4 billion business and jobs stimulus packets this grant is being extended to a broader base of SMEs and expanded by €300 million, bringing the Restart grant to €550. On 18th September the Government announced that Dublin businesses impacted by 25% or more fall in turnover will now be entitled to a 30% top-up, bringing the new minimum for affected counties to €5,200 and the new maximum to €32,500. Those that applied and received a grant previously, can receive the top up of 30%.
Key conditions	Grant equivalent to the rates bill of the business in 2019. It is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers. It can be used to defray ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety. Company must commit to remain open or to reopen if it was closed. Business must declare the intention to retaining employees that are on The Temporary Wage Subsidy Scheme (TWSS) and to reemploy staff on the Pandemic Unemployment Payment where applicable.
Key terms	Applications can be made online to local authorities from 22^nd May. Processing of applications and payment of the Restart Grant will depend on the initial surge of applications but, as far as is feasible, will be prioritised according to scheduled re-opening dates in the national Roadmap.
Further details	Gov.ie

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h2>Funds

Sustaining Enterprise Fund - Enterprise Ireland
Sustaining Enterprise Fund - Small Enterprise (Enterprise Ireland)
Pandemic Stabilisation and Recovery Fund
Restart Fund for Micro & Small Businesses
Innovative High Potential Start-Up Fund
InterTrade Ireland Emergency Business Solutions
InterTrade Ireland E-merge Initiative
An Post Funding for SMEs
Enterprise Ireland Competitive Start Fund
Restart Grant Plus for Bed & Breakfasts
Music Stimulus Package - Songwriting
Music Stimulus Package - Recording
Music Stimulus Package - Album Release
Accelerated Recovery Fund

Sustaining Enterprise Fund – Enterprise Ireland (EI)
Purpose	Last resort liquidity funding and to support implementation of a business sustainment plan by companies who have been impacted by a 15% or greater reduction in actual or projected turnover or profit, and/or have significant increase in costs as a result of the Covid-19 outbreak.
Eligible businesses	Manufacturing and internationally traded services companies with capital with: 10 or more full time-employees For SMEs — must have applied for and have been unable to raise sufficient funding from the market, a financial institution Large companies — must have applied for and been unable to raise sufficient funding from an appropriate financial institution. This scheme has been expanded to include direct grant support to viable businesses, in addition to equity and repayable advances.
Amounts	Up to €800,000 of fund available In February 2021 the Government approved a further €90 million in funding followed by an additional €20 million in August of this year.
Key conditions	Payments will be in the form of repayable advances
Key terms	The funding to be repaid as follows: 3-year grace period Full repayment by the end of year 5, on successful achievement of the project objective
Interest rate	Annual administration fee of 4%
Contact	You must contact your Enterprise Ireland Development Advisor

Sustaining Enterprise Fund - Small Enterprise (Enterprise Ireland)
Purpose	To sustain eligible smaller companies who have been impacted by a 15% or greater reduction in actual or projected turnover or profit as a result of the Covid-19 outbreak. It will support businesses to implement a business continuity project plan to strengthen their return to growth.
Eligible businesses	Manufacturing and internationally traded service companies with: 10 or more full-time people on their payroll on the 29th of February 2020 An annual turnover in their most recent financial statements not exceeding €5 million
Amounts	Repayable funding of up to €50,000 available for companies with annual turnover of €1.5 million - €5 million Repayable funding of up to €25,000 available for companies with turnover of less than €1.5 million
Key conditions	Funding to be repaid subject to the project objectives being achieved
Key terms	The funding to be repaid as follows: Three-year grace period Full repayment by the end of year five, on successful achievement of the project objective
Interest rate	An annual administration fee of 4%
Contact	You must contact your Enterprise Ireland Development Advisor

Pandemic Stabilisation and Recovery Fund (Ireland Strategic Investment Fund)
Purpose	A new fund to be made available by the Ireland Strategic Investment Fund (ISIF)
Amounts	€2 billion fund of ISIFs readily available capital will be invested in medium and large enterprises (more than €50 million in annual revenue or more than 250 employees) to assist them meet the challenge of Covid-19
Key conditions	It will be made available through a sub-portfolio within ISIF The fund will act as an accelerator, investing on a commercial basis in businesses that can meet the investment requirements and can use ISIF investment to return to long-term viability

Restart Fund for Micro & Small Businesses
Purpose	To assist micro and small businesses in reconnecting with the market, their employees and their customers
Eligible businesses	Micro and small businesses to be decided on by the Department of Public Expenditure and Reform in consultation with the Departments of Business, Enterprise and Innovation and Housing, Planning and Local Government.
Amounts	A €10,000 restart grant for micro and small businesses based on a rates/waiver rebate from 2019. As part of the Government's €7.4 billion business and jobs stimulus packets a package of liquidity and enterprise investment measures worth €55 million will be put in place to support small and micro companies through additional resources form Microfinance Ireland and the Local Enterprise Offices.
Further details	Restart Fund for micro and small businesses

Innovative High Potential Start-Up (HPSU) Fund
Purpose	Part of the Sustaining Enterprise Fund, this fund helps High growth potential start-ups (HPSUs) - which can develop innovative technologies, products and services for sale on world markets to – to maintain liquidity and sustain their businesses in the short to medium term Allows Enterprise Ireland to offer equity investment to HPSU clients, on a co-funded basis
Eligible businesses	Existing Enterprise Ireland clients who qualify as a small enterprise and have been in existence for less than five years and satisfy one or more of the following criteria: For companies with no trading record at the time of application, at least 15% of the total operating costs must relate to R&D expenses in the current fiscal year, and/or For companies with a trading record, at the time of application, at least 15% of the total operating costs must relate to R&D expenses, in at least one of the three years preceding the application, and/or Have an innovative business plan for the development of products, services or processes which are technologically new or substantially improved compared to the state-of-the-art in its industry in the European Community, and which will carry a risk of technological or industrial failure. This will be laid out in a business plan.
Amounts	Investment level determined following an assessment of the business plan and supporting evidence, and based on the company's viability Growth potential Potential value to the Irish economy in terms of number and quality of jobs created and exports generated Level of risk Quality and innovative aspects of the business plan Achievement of previous milestones or Enterprise Ireland investment targets (for subsequent rounds of funding). The fund is up to €800,000
Key conditions	Investment goes towards the achievement of an overall business plan, rather than funding towards discrete elements of a business plan, such as R&D or employment creation Potential applicants should contact their Enterprise Ireland Adviser to discuss applications
Further details	Innovative High Potential Start-Up (HPSU) Fund

InterTrade Ireland – Emergency Business Solutions
Purpose	To ensures cross-border companies in manufacturing and tradeable services can avail of professional advice to address key business challenges related to the COVID-19 pandemic.
Eligible businesses	manufacturing or tradeable service business registered in either NI or ROI engaged in cross-border trade fewer than 250 employees annual turnover of less than €44.5million (or Sterling equivalent). Not eligible Businesses involved in retail, distribution and agriculture are not eligible for assistance under this scheme.
Amounts	To the value of €2,250 Nb. One of the areas ‘Rapidly repositioning your business strategy’ is delivered via 1:1 workshops. No other key areas can be used in conjunction with this option as the cost constitutes the total support amount of €2,250)
Key conditions	All applications are assessed against the eligibility criteria. Sufficient detail must be provided in the application to allow for assessment (where limited detail is provided, your application is likely to be unsuccessful). Priority will be given to businesses who best meet eligibility criteria and have clearly identified how this support will assist the business during this COVID-19 emergency period. Applicants must have a satisfactory trading history (min. 18 months & established turnover) Applicants must have the capacity to deliver the project
Key terms	Funding is provided under the European Commission Regulation on De Minimis Aid as stated in the application for Emergency Business Solutions. Business must provide InterTradeIreland with details of all other De Minimis aid which has been granted to the business within the past three years. A false declaration by a business resulting in the threshold of €200,000 (or sterling equivalent) being exceeded could later give rise to the aid being recovered with interest. Applications can be made online as early as possible as there is limited availability.
Further details	InterTrade Ireland

InterTrade Ireland – E-Merge Initiative
Purpose	To provide emergency fully funded consultancy support to help businesses develop online sales and eCommerce solutions, such as website management, SEO optimisation, Product listing and many others.
Eligible businesses	manufacturing or tradeable service business registered in either NI or ROI engaged in cross-border trade fewer than 250 employees annual turnover of less than £40million (or Euro Equivalent) Not eligible Businesses involved in retail, distribution and agriculture
Amounts	To the value of €2,800
Key conditions	Have a satisfactory trading history (min. 18 months & established turnover) Have the capacity to deliver the project
Key terms	The funding is provided under the European Commission Regulation on De Minimis Aid as stated in the application for E-Merge. The business must provide InterTradeIreland with details of all other De Minimis aid which has been granted to the business within the past three years. It should be noted that a false declaration by a business resulting in the threshold of €200,000 (or Sterling equivalent) exceeded could later give rise to the aid being recovered with interest. Applications can be made online as early as possible as there is limited availability.
Further details	InterTrade Ireland

An Post Funding for SMEs
Purpose	An Post is committing €2 million worth of practical supports to help Ireland’s SMEs get back to business and selling online successfully and sustainably.
Eligible businesses	SMEs ROI
Amounts	Direct Mail fund worth €1m for 1000 SMEs to market their business across Ireland, Discounted prices for the Covid-19 period, starting with 25% discount on parcels
Key conditions	A dedicated eCommerce advice hub providing information and expert tips for help SMEs to start trading online. With links to the Local Enterprise Offices (LEOs) and other SME networks, small businesses will have access to the best information and inspiration in just a few clicks.
Key terms	Direct Mail funding will be allocated on a first come-first service basis from Monday 24th May. By registering for the An Post Advantage Card at anpost.com/commerce, SMEs can also avail of bulk-buy discounts on booklets and boxes of stamps. An Post also provides lodgement and withdrawal facilities for AIB and Ulster Bank business customers, and Corporate Deposits (for business cash) at post offices, as well as Merchant Services for SMEs.
Further details	An Post

Enterprise Ireland Competitive Start Fund
Purpose	To accelerate the growth of start-up companies that have the capacity to succeed in global markets. The fund is designed to enable those companies to reach key technical and commercial milestones.
Eligible businesses	Applications are considered on a competitive basis. Funding is provided to companies who rank highest in a two-phase evaluation process.
Amounts	The maximum level of support per successful application is €50,000, for 10% in ordinary shares in the start-up company, to be released in 2 equal tranches of €25k (5% in ordinary shares for each tranche).
Key conditions	Applicants to the fund should ideally be able to demonstrate the following: that they are able to clearly demonstrate that product or service has reached Minimal Viable Product (MVP) stage, and that the product is, at a minimum, live in beta. that the product or service they produce has demonstrable customer validation ideally with (trial and/or paying) customers. a fully articulated proposition addressing a clear gap in the market with market research conducted with customers/potential customers. evidence of innovation, export potential and employment capacity. clear export market opportunity for the proposed product or service. clear knowledge of the competitive landscape. clear execution plan outline, identifying suitable channels to international markets.
Key terms	Assessments are undertaken on the applications submitted; it is important to note that the greater the progress the applicant has undertaken towards generating sustainable revenues the stronger the application. Applications from projects that are at idea, concept or design stage may be considered to require further development before applying for the competitive start fund. All applications to the Competitive Start Fund must be made via the Enterprise Ireland online application system during call open dates. Two Competitive Start Fund competitions opened for applications on Tuesday 7th July 2020, closing on Tuesday 18th August at 3pm.
Further details	https://www.enterprise-ireland.com/en/funding-supports/company/hpsu-funding/competitive-start-fund-csf-.html

Restart Grant Plus for Bed & Breakfasts
Purpose	To help B&B owners with the cost of reopening and operating their business during the ongoing COVID-19 pandemic.
Eligible businesses	In order to apply for the Restart Grant Plus for B&Bs, a B&B business must: Be a commercial enterprise Not be paying local authority rates Have fewer than 250 employees Have suffered a projected 25%+ loss in turnover between 1 April to end June 2020, based on a comparable period in 2019 Be committed to remaining open or to reopen in 2020, if it was closed Intend to retain employees that are/were on the Employment Wage Subsidy Scheme (EWSS) (formerly Temporary Wage Subsidy Scheme (TWSS)) Be in operation prior to January 2020
Amounts	Total scheme is worth up to €8 million. Individual grants of max €4,000. Because of the additional restrictions introduced in Kildare, Laois and Offaly in August, B&Bs in those counties will be able to claim €4,800.
Key terms	Applications for the Restart Grant Plus for B&Bs will be processed in two phases: Applications for B&Bs under the National Quality Assurance Framework (NQAF), through direct approval by Fáilte Ireland, will open from the 14 September until the 28 October 2020. Further details on the application process for B&Bs which are not approved under National Quality Assurance Framework (NQAF) will be announced shortly.
Contact	https://www.failteireland.ie/guidelines-terms-conditions-restart-grant-plus-b-and-b.aspx

Music Stimulus Package - Songwriting (ROI)
Purpose	To facilitate Songwriting Camps, defined as “ 2 or more registered songwriters engaging with studio and/or producers to collaborate on new works/intellectual property with a view to releasing or publishing created intellectual property nationally or internationally”.
Eligible businesses	The music stimulus schemes are targeted at professional musicians and their teams and will support songwriting camps, recording and album releases.
Amounts	A grant of €6,000 will be made to each successful application.
Key conditions	The applicant is: A publisher who is a member of IMRO or another internationally recognised collections society; A self-publishing artist resident in Ireland who is a member of IMRO or another internationally recognised collections society; A publishing company with Irish clients. Applications can be made by Irish publishers, self-published artists or publishing companies with Irish clients. The fund is available to projects where 2 or more artists are writing original work together. Applicants with Songwriting Camps taking place after December 30 2020 will be considered ineligible. Funding will not be provided for Songwriting Camps which took place before the launch of this fund.
Contact	https://www.firstmusiccontact.com/information-on

Music Stimulus Package - Recording (ROI)
Purpose	This fund is to facilitate the recording of: Singles EPs OR Albums
Eligible businesses	Applications can be made by independent Irish record labels, self-releasing artists or international independent record labels with Irish clients.
Amounts	Grants of the below amounts will be available for each: Single recording: €1,200 to each successful application. EP recording: €4,000 to each successful application. Album recording: €6,000 to each successful application.
Key conditions	One grant per applicant only will be available. Activity should commence, and the first half of the grant drawn, down by December 23, 2020. Funding will not be provided for recording sessions which took place before the launch of this fund. Applicants whose recording timeline is scheduled to commence after December 23, 2020 will be considered ineligible.
Contact	https://www.firstmusiccontact.com/recording-stimulus-fund-information

Music Stimulus Package - Album Release (ROI)
Purpose	To provide support for albums which are scheduled for release from October 2020 onwards.
Eligible businesses	Applications can be made by a self-releasing artist, an independent label based in Ireland or an international independent record label which represents an Irish artist normally resident in Ireland.
Amounts	A grant to the value of €5,000 will be made to each successful application. You may apply for funding to cover costs related to services of an Irish-based PR company or person in return for the promotion of the ready to release album listed, to the value of €2,500. In addition, the successful applicant will receive a credit with Yangaroo (a subsidiary of IASCA) to the value of €500 to provide direct distribution of the album to the media. Finally, €2,000 will be available to cover costs already incurred by the artist OR label in the creation of this ready-to-release album.
Key conditions	Applicants whose albums are not fully recorded and release-ready by the launch date (9^th September) of this Stimulus Fund will be considered ineligible. Applicants with albums which were recorded after the launch of this fund will be considered ineligible. Applications for EPs and single releases will be considered ineligible. Artists on the roster of a major record label will be considered ineligible. Proof of costs in the form of receipts must be supplied by successful applicants.
Contact	https://www.firstmusiccontact.com/albumrelease-fund-information

Accelerated Recovery Fund (ROI)
Purpose	Designed to provide support to Irish companies seeking to adapt their operations and business models in order to remain competitive and return to growth following the effects of the pandemic.
Eligible businesses	Open to companies that operate within the manufacturing and internationally traded services sectors which: employed 10 or more full time employees on their payroll on 29 February 2020; or employed 10 full time employees at the time of application This fund is open to (i) domestically and internationally traded companies within the definition of manufacturing and (ii) internationally traded service sectors.
Amounts	€31 million
Key conditions	Companies must : Have experienced, or are projected to experience, a 15% or more reduction in actual or projected turnover or profit as a result of the Covid-19 outbreak; the reduction in turnover or profit of 15% or more relates to a comparable quarter in 2019 or 2020 Or have had a significant increase in operational costs as a result of Covid-19 Not have been Undertakings in Difficulty at 31st December 2019 and/or at the date of application, as provided for in State aid law. An exception to this is micro and small undertakings (i.e. undertakings with fewer than 50 employees and less than €10m of annual turnover and/or balance sheet value) provided that at the moment of providing the support, they are not subject to collective insolvency procedure under national law. Funding must be approved and drawn down before 31st December, 2021. Closing date for receipt of final applications is 29th October, 2021.
Contact	https://www.enterprise-ireland.com/en/funding-supports/company/esetablish-sme-funding/accelerated-recovery-fund.html

Vouchers & Schemes

Business Continuity Voucher - Local Enterprise Office (LEO)
COVID-19 Business Financial Planning Grant – Enterprise Ireland (EI)
LEAN for Micro – Local Enterprise Office (LEO)
Lean Business Continuity Voucher - Enterprise Ireland
Trading Online Voucher Scheme – Local Enterprise Office
COVID 19 Online Retail Scheme - Enterprise Ireland
COVID 19 Products Scheme - Enterprise Ireland
Digitalisation Voucher - Enterprise Ireland

Business Continuity Voucher – Local Enterprise Office (LEO) - CLOSING SOON

Purpose

To help companies make informed decisions about what immediate measures and remedial actions should be taken, to protect staff and sales. Designed to go towards third-party consultancy fees for activities such as:

Developing business plans
Assessing financial needs and options
Applying for emergency financial support, and
Implementing remote working

If application is successful a qualified expert will be selected by Local Enterprise Office to work with the business on business continuity plans

Amounts

Value of up to €2,500

Eligible

Sole traders
Partnerships and
Companies who employ up to 50 people

Excluded: clients of Enterprise Ireland, IDA or Údarás na Gaeltachta

Key conditions

Ordinarily one voucher available per business
Applications are required by COB 15/05/2020. Business should check with their LEOs regarding any updates.
Advisors must be accredited LEO mentors.

Application

Apply by visiting the Local Enterprise Office website, downloading the form, and emailing it to your LEO

Further details

Business Continuity Voucher – Local Enterprise Office (LEO)

Back to Vouchers & Schemes

COVID-19 Business Financial Planning Grant – Enterprise Ireland (EI)
Purpose	In light of the COVID-19 crisis, this grant is to encourage companies to be proactive in developing a detailed financial plan that identifies funding needs and potential sources of funding by providing strategic intervention for companies to work with third party consultants to prepare a detailed financial and business plan with forecasts and assumptions
Amount	Up to €5,000 (100% of expenditure) to go towards the cost of engaging an external approved financial consultant to prepare a financial plan, including to support finance applications
Eligible	Clients of: Enterprise Ireland (EI) Údarás na Gaeltachta IDA Ireland Non-EI manufacturing or internationally traded services companies with over 10 full-time employees Not eligible Companies active in the fisheries sector or in the primary production of agricultural products Companies operating in the coal and steel sector
Key conditions	Companies will need a positive de Minimis balance to cover the approved grant amount (to be self-certified). Costs not covered: Any expenditure incurred prior to the date of receipt of application in Enterprise Ireland Consultant expenses Sales-related expenses Trade Fair participation costs Any Internal costs of the company (e.g. Salaries & Overheads) Receipt of other grants from Enterprise Ireland may impact on your eligibility for support under this initiative The EI Business Financial Planning Grant is available to meet the costs of a consultant from the “Approved Financial Consultants Directory”
Application	Enterprise Ireland Development Advisor or Enterprise Ireland’s COVID-19 Business Response Unit

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LEAN for Micro – Local Enterprise Office (LEO)

Purpose

To help to help implement new remote working and physical distancing guidelines, or to engage a LEAN expert to introduce LEAN principles, undertake a cost-savings project and assist in benchmarking performance.

Eligible

LEO clients

Key conditions

More information can be obtained by contacting your LEO directly

Application

Apply by visiting the Local Enterprise Office website

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Lean Business Continuity Voucher – Enterprise Ireland
Purpose	Voucher for training or advisory services support related to the continued operation of their businesses during the current pandemic. The services may be in the form of management advice OR training of management or staff within the company or a combination of both. The service provided should focus on the operations of the company in terms of: Crisis response where appropriate Sustaining Operations including process re-engineering (Lean, etc) Planning for resilience post crisis
Amount	Voucher of up to €2,500. A maximum daily rate of €900 per day shall apply
Eligible	Small, medium, and large client companies of Enterprise Ireland and Údarás na Gaeltachta (which includes HPSUs)
Key conditions	Limit of one voucher per company in general, although Enterprise Ireland may offer further vouchers where a company has more than one distinct operation (to a maximum of three) Can be used on up to three days of management advice and/or training The voucher may be used to obtain services from approved providers It is expected that the support would be provided over a relatively short period but can be spread out over a maximum of 6 weeks Eligible activities do not include general consultancy such as market research or project implementation Scheme is a short-term measure and may be withdrawn once the current emergency period ends
Application	Enterprise Ireland's online application system.

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Trading Online Voucher Scheme – Local Enterprise Office
Purpose	To help small businesses with up to 10 employees to trade more online, boost sales and reach new markets by offering funding towards adding payment facilities/booking systems to a website, developing new apps for customers or availing of subscriptions to low cost online retail platform solutions, to help companies quickly establish a retailing presence online
Amount	Value of up to €2,500; covering 90% of the costs of an online initiative with co-funding of 10% from the business. This scheme has been expanded to a total of €20 million from the Local Enterprise Offices.
Eligible	Businesses with: Limited or no e-commerce presence 10 or fewer employees Turnover less than €2 million Trading for at least six months
Key conditions	Business must be located in the area covered by the LEO to whom they make their application It is worth noting that businesses who have previously availed of the scheme are permitted to apply again where upgrades are required
Application	Apply by visiting the Local Enterprise Office website

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COVID-19 Online Retail Scheme – Enterprise Ireland
Purpose	To enable Irish-owned retailers to enhance their digital capability and to develop a more competitive online offer, that will enable an increase in their customer base and build a more resilient business in the domestic and global marketplace both online and offline. Activities covered would include research, consultancy and training.
Amounts	A grant of up to 80% of a project cost, capped at €40,000. However, a minimum project cost of €12,500 applies (with a grant of up to €10,000) This has been expanded to an additional €5.5 million through Enterprise Ireland.
Eligible	Indigenous retailers Existing online presence (website or social media) 10 or more employees at full-time equivalent basis on or before 29 February 2020 Have a retail outlet and derive majority of revenue from retail outlet(s)
Key conditions	Minimum project cost of €12,500 applies Maximum grant: €40,000 Companies must be indigenous
Application	Respond to public call for projects between dates: 29 April 2020 – 27 May 2020, 3pm deadline via this link

COVID-19 Products Scheme – Enterprise Ireland
Purpose	The Scheme is composed of three measures all of which aim to support Irish based internationally focused companies (SME and Large) to address: Measure 1: COVID-19 relevant research and development (“R&D”) activities by companies coupled with the creation of useful IP. Measure 2: The construction and upgrade of testing and upscaling infrastructures that are utilised to develop COVID-19 relevant products. Measure 3: Increased production of products needed to respond to the COVID-19 outbreak. These outputs should be achieved as quickly as possible.
Amounts	This is a budget-limited scheme with the following features: Measure 1 Max Grant Rate: up to 50% of qualifying costs Max Grant: €650,000 per project Measure 2 & 3 Max Grant Rate: up to 50% of qualifying costs There is no upper limit to overall grant size (subject to budget) An additional €10m allocation to the scheme was announced on 9 February 2021 to help in the fight against the virus.
Eligible Businesses	Employ 10 or more full-time employees* Are operating in the manufacturing and internationally traded service sectors. The scheme is not open to companies who: Are active in the primary agricultural, fishery or aquaculture sectors. Operate in the coal and steel sector. Were covered by specific rules for Financial Services.
Key conditions	The scheme is open to COVID-19 relevant product activities only. Retrospective costs (on or after the 1st February 2020): Where applicable, costs associated with activities of qualifying projects may be retrospectively funded. In these cases, the aid must assist projects which accelerate project implementation or extend project scope. The company must demonstrate to the satisfaction of Enterprise Ireland that costs were incurred on or after the 1st of February 2020. Application forms are available from the Business Response Team within Enterprise Ireland.
Application	https://www.enterprise-ireland.com/en/funding-supports/Covid-19-Products-Scheme/

Digitalisation Voucher – Enterprise Ireland
Purpose	To provide support to companies as they seek to access the expertise needed to develop a digital roadmap for their business.
Amounts	The voucher covers the provision of technical or advisory services related to the operations of the business, from an approved service provider up to a value of €9,000 A maximum daily rate of €900 shall apply
Eligible Businesses	Manufacturing or internationally traded services companies which employed 10 or more full time employees on their payroll on 29 February 2020; or employed 10 full time employees at the time of application As part of the application you will need to complete a digital assessment scorecard from Enterprise Ireland www.globalambition.ie/scorecard which will provide an overview of your current digital readiness In order to be eligible for funding, companies must: Have experienced, or are projected to experience, a 15% or more reduction in actual or projected turnover or profit as a result of the Covid-19 outbreak; the reduction in turnover or profit of 15% or more relates to a comparable quarter in 2019 or 2020 Or have had a significant increase in operational costs as a result of Covid-19 Not have been Undertakings in Difficulty at 31st December 2019 and/or at the date of application, as provided for in State aid law. An exception to this is micro and small undertakings (i.e. undertakings with fewer than 50 employees and less than €10m of annual turnover and/or balance sheet value) provided that at the moment of providing the support, they are not subject to collective insolvency procedure under national law.
Key conditions	The support will be provided over a relatively short period but it may be spread out over a maximum of 8 weeks Eligible Projects must include one or more of the following activities: Internal process optimisation (Lean-Digital-Automation) Customer digital experience (Product, Service, Route to Market, Channels) Data-driven decision making
Application	https://www.enterprise-ireland.com/en/news/pressreleases/2021-press-releases/tanaiste-announces-sustaining-enterprise-and-accelerated-recovery-fund.html

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Other supports


Social Welfare: information for employers and employee	The Department of Employment Affairs and Social Protection has a range of measures to provide income support to people affected by COVID-19. We have summarised the measures announced to date which includes advice for employers and welfare advice for the self-employed and employees.
Key Manager Grant – Enterprise Ireland	This involves partial funding towards hiring a full- or part-time manager who has the skills needed to support the business and future growth, e.g. Chief Financial Officer, Chief Technical Officer, R&D Manager, Production Manager, etc. It is available to: small- and medium-established Enterprise Ireland clients who have over 10 employees; companies that have been generating sales for at least two years; and certain HPSUs. The manager must fill a new role that is based in Ireland. See Enterprise Ireland for details on how to apply online.
Strategic Consultancy Grant – Enterprise Ireland	This offers advice, support and access to external consultants on strategic sourcing, transport and logistics. See Enterprise Ireland for more information.
Business Process Improvement Grant – Enterprise Ireland	This grant is up to 50% of a hiring consultant’s cost and is capped at €35,000. The purpose is to develop and/or implement strategic initiatives to support efficiency and business process improvements. It is available to manufacturing/internationally traded services SME companies who employ 10–249 people; as well as companies who are not eligible to received support via An Bord Bia/An Bord Iascaigh Mhara. To apply, visit the Enterprise Ireland website.
Local Enterprise Office Support	This is free mentoring provided by Local Enterprise Offices to help clients develop strategies to deal with COVID-19.
Enterprise Ireland Mentoring Grant	Enterprise Ireland is offering grant support of up to €1,750 to work with a mentor, who will assist with business growth. LEO mentors are available to LEO clients and more information can be found on the LEO website. The Enterprise Ireland mentor grant is open to EI clients who are manufacturing or internationally traded services companies who employ 10–249 people, as well as HPSUs. More information can be found on its website.
Rapid Response Research and Innovation Funding – SFI	SFI, EI and the IDA have launched a rapid-response call to support the development of innovative solutions to problems arising from the pandemic. To avail of this funding, solutions must be operational and deployed fully within six months of the start of the project. Contact covid19@sfi.ie for further information. However, the scheme will be paused from 1PM on 1 May 2020.
Miscellaneous Local Enterprise Office Grants	These grants include: Business Priming Business Expansion Feasibility Study Technical Assistance for Micro-Exporters All the above are available to Local Enterprise Office clients and potential start-ups that meet the eligibility criteria (i.e. employing up to 10 people with the potential for growth and job creation). To avail, contact your Local Enterprise Office for more information.
Ireland Performs – Culture Ireland	This is a grant of up to €1,000 that is designed to support professional artists and allow them to present their work live on digital platforms. This will initially be running for four weeks from 3 April 2020. Application forms are available on Culture Ireland’s website.

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These pages are provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.

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