Other Sources of Finance & Funding for your Business:
Local Leader Group (Leader West Cork)
The LEADER Programme supports local and community projects across a diverse range of themes including; rural tourism, enterprise development, rural towns, access to broadband, basic services targeted at hard-to-reach communities, rural youth, protection and sustainable use of water resources, protection and improvement of local biodiversity, and development of renewable energy.
The West Cork Local Community Development Committee (LCDC) – a Committee of Cork County Council – is confirmed as the new LEADER Local Action Group (LAG) for West Cork and the programme officially commenced on the 1st December 2016. The new group – branded “LEADER West Cork” – manages the allocation of just over €5 million in LEADER funding across West Cork for the period 2016-2020. A New programme will commence in 2022.
The North Cork Local Community Development Committee (LCDC)
The North Cork Local Community Development Committee (LCDC) is a Committee of Cork County Council. It is confirmed as the new LEADER Local Action Group (LAG) for North Cork and the programme officially commenced on the 1st December 2016. The new group – branded “LEADER North Cork” – manages the allocation of €5.1 million in LEADER funding across North Cork for the period 2016-2020.
In addition Cork County Council is providing a supplementary Community Development Initiative Fund of just under €1.3m to support the programme which brings the total funding available to communities in North Cork to just under € 6.4 million. The programme is being rolled out by a consortium of the North Cork LAG and the three incumbent local development companies operating in the North Cork Council division namely;
- Avondhu-Blackwater Partnership CLG
- Ballyhoura Development CLG
- IRD Duhallow CLG.
The LEADER Programme supports local and community projects across a diverse range of themes including; Rural tourism, enterprise development, rural towns, access to broadband, basic services targeted at hard-to-reach communities, rural youth, protection and sustainable use of water resources, protection and improvement of local biodiversity, and development of renewable energy. The programme is co-financed by the European Agricultural Fund for Rural Development.
FLAG Programme – Fisheries Related Leader Programme
The FLAG scheme is a five year fisheries local development programme which has been allocated €12 million funding under the European Maritime and Fisheries Fund (EMFF) Operational Programme. There are seven Fisheries Local Action Groups (FLAGs) recently selected as part of a competitive process under the community led local development element of the €240 million EMFF Operational Programme. The funding is 50% financed by the EU.
The seven FLAG areas are North East (Louth, Meath, Dublin), South East (Wicklow, Wexford, Waterford), South (Cork), South West (Kerry), West (Galway, Clare), North West (Mayo, Sligo), North (Donegal)
This initiative is focused on community-led development to enhance the economic opportunities and social sustainability of Fisheries and Aquaculture dependent areas. Each FLAG has, through a process of public consultation developed a Local development Strategy, aimed at supporting job creation, adding value, promoting innovation as well as enhancing environmental assets and promoting each area’s maritime cultural heritage.
Regional Development Officer, South: Brenda O'Riordan Tel: 01-2144296 / 087-3512327 Email: brenda.oriordan@bim.ie
Údarás na Gaeltachta can offer qualifying businesses and companies from various sectors a range of incentives and supports to start up, develop, expand or locate in a Gaeltacht region. Hundreds of companies have established businesses in the Gaeltacht with the assistance of Údarás na Gaeltachta. If you are thinking of expanding your business into a new area or accessing new markets, developing a new product, or diversifying in a new direction, Údarás na Gaeltachta may be able to assist you.
The purpose of the Competitive Start Fund is to accelerate the growth of start-up companies that have the capacity and ambition to succeed in global markets. The fund is designed to enable those companies to reach key technical and commercial milestones. Applications are considered on a competitive basis. Funding is provided to companies who rank highest in a two-phase evaluation process.
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).
Applicants to the fund should ideally be able to demonstrate the following:
- 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 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 outlined, identifying suitable channels to international markets.
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. Applicants proposal should be beyond an idea or concept stage at the time of application for the competitive start fund.
The Enterprise Support Grant (ESG) allows the Department to provide financial support for new enterprises, in addition to income support under Back to Work Enterprise Allowance (BTWEA) and Short Term Enterprise Allowance (STEA), to jobseekers who are approved for either aforementioned scheme. The grant is available to current recipients of BTWEA or STEA.
How to qualify:
- The primary focus of this grant is on supporting new enterprises set up under BTWEA or STEA. A Case Officer can approve a grant for someone seeking employment under this scheme where:
- An applicant must be able to demonstrate (by way of documentary evidence – a bank statement or similar) if requested by a Case Officer that they are able to make a matching contribution of at least 20% to access the level of grant support available.
- In general, funding will relate to start-up expenses but can be accessed over the duration of the BTWEA/STEA scheme.
- The projected costs looking to be supported by this grant should be included in the business proposal and the plan submitted in respect of the BTWEA/STEA, as should the ability of the applicant to provide matching funds. Costs that are not anticipated in the planning process can be considered during the lifetime of the enterprise support where the participant remains in contact with the case officer and advises him/her on ongoing progress.
- Rates of Payment The maximum amount payable is €2,500 for the 24 month period of the BTWEA claim. For those on STEA it will be on a pro-rata basis €1000 Max (9 months) and €625 Max (6 months).
JobsPlus is an employer incentive which encourages and rewards employers who employ jobseekers on the Live Register. Employers are paid an incentive monthly in arrears over a 2-year period. It provides 2 levels of regular payments, €7,500 and €10,000 respectively.
Eligible employers who recruit full-time employees on or after 1 July 2013 may apply for the incentive.
How to qualify - Employers
- If an employer decides to recruit an additional employee, they can complete the JobsPlus Online Application for Employers giving, for example, the name of company, size of workforce, bank details and economic sector of company. Once this is submitted an officer of the department will review and check the tax clearance certificate is in order and email the employer if it is approved.
- Once eligibility is confirmed by the department, an employer may start to recruit, either by contacting their local Intreo Centre or Employment Services Office for details of suitably experienced and qualified candidates for their vacancy. They could also register the vacancy with Jobs Ireland.
