An updated list of supports available to SMEs during Covid
The supports and packages to help support SMEs during the Covid period are changing all the time so Boost My Business has updated a helpful list of what’s available.
Here is an updated list of some of the current supports, loans and competitions open to micro, small and medium businesses navigating their way through the difficult Covid period.
Fáilte Ireland Covid – 19 Adaption Fund: Supporting tourism and hospitality businesses who have incurred adaptation costs in order to re-open safely. Available grants up to €15,000 open for applications until 8 October 2020. Find details here
Covid-91 Online Retail Scheme: Competitive fund through Enterprise Ireland for Irish-owned retailers to develop their online offering. Awards are 80% of their project costs – maximum grants of €40,000. The call for applications closes Monday, September 28 at 3pm. For all the information click here
Micro Finance Loan – Loans from €5,000 to €25,000 are available to micro-enterprises that meet the eligibility criteria for the Covid-19 Loan. Interest rate of 5.5% APR applies but if you apply through your Local Enterprise Office you can avail of the lower rate of 4.5% APR. There are zero repayments and 0% APR for the first six months and you can apply for a rebate on interest for months 7-12 provided all repayments have been made. More details here
Local Enterprise Office have many other supports and services as part of their Covid response including courses, Trading Online Vouchers and mentoring. Check out the list of supports here and find your local LEO here
Covid -19 Credit Guarantee Scheme – Loans available to SMEs borrowing from €10,000 to a maximum of €1,000,000 for terms of 3 months up to 5 and a half years. Available from AIB, Bank of Ireland and Ulster Bank. Available up to 31st December 2020. For more details click here
Enterprise Ireland Funds: For more on funding opportunities from the agency click here
The Sustaining Enterprise Fund – Eligible applicants are manufacturing and internationally traded service companies with 10 or more full-time people on their payroll on the 29th of February 2020 who have seen a 15% reduction in actual or projected turnover/profit, or a significant increase in costs due to Covid. Available funding will comprise of both repayable and non-repayable supports. Click here for more details.
Also if you are an Enterprise Ireland client make sure you avail of their Covid-19
Business Financial Planning Grant – providing 100% funding of up to €5,000 to access an approved financial consultant. Find more details here
Enterprise Support Grant: Covid-19 support for micro enterprises. Restart grant of up to €1,000 for those not liable for commercial rates. See here for more information.
Restart Grant Plus: Extra support is being provided for enterprises that could not access the original grant scheme, including rateable sports businesses and trading charity shops. Non-rated B&Bs will be eligible for a grant payment of €4,000. For more information on the newly revised scheme click here to find your local authority. Non-rated B&B’s need to apply through this link here (until 28th October)
Údarás na Gaeltachta’s COVID-19 Online Trading Scheme: The closing date for Gaeltacht businesses is currently 30th September but there are a limited amount of vouchers left so get your applications in soon! You can find all the details here and other supports for Gaeltacht businesses here
Intertrade Ireland E-Merge Programme – providing £2,500/€2,800 fully funded consultancy support to help businesses develop online sales and eCommerce solutions. Applicants must be indigenous businesses registered in Ireland or Northern Ireland and be active in either manufacturing or tradeable service sectors in the cross border market. Find more details here
Music Industry Stimulus Package – designed to help sustain the popular and commercial music sector and stimulate areas of work which artists would usually fund with income from own sources, including live event fees. First Music Contact are holding a final Q&A session on Monday, September 28th @ 5pm and closing date for applications is October 5th, 2020. Find out all the details here
The Irish Business Design Challenge is a competition with a prize fund of €50,000 inviting micro, small and medium Irish businesses to enter by sharing their experiences of business during Covid. They will profile a company’s story of redesigns and pivots giving then the chance to win €15,000 as the first prize for each category and €2,000 for the runner-up in each category. For more details on the competition click here
Facebook are giving grants, in a combination of cash and ad credits, to help small businesses in Dublin, Cork and Meath, where Facebook has offices and its Clonee data centre. You can find more details about the scheme here
Apprenticeship Incentivisation Scheme: SOLAS provides financial support for employers who take on apprentices on national apprenticeship programmes. Apprenticeship employers are eligible for a €3,000 payment for each new apprentice. For more details check here
Grow with Google – you can find a host of free programmes to help grow your business here