The Business Expansion grant is designed to assist the business in its growth phase after the initial 18 month start-up period.
What are the Eligibility Requirements?
The following criteria apply:
- The Business must be located within Fingal
- 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
What expenditure is eligible under the Business Expansion Grant?
- Capital Items: Capital items include fit out of workspace, office equipment, machinery, computer costs, hardware and software etc (Note: Acquisition of building and purchase of mobile assets are excluded from grant aid).
- Salary Costs: For 1st year of employment this to be paid out in two instalments. The first instalment at the commencement of employment and the second instalment once the employment has continued in existence for a period of six months. The level of grant support should reflect the salary scale proposed for the employment being generated. It is anticipated that only quality jobs attracting salaries in excess of €40,000 will be eligible for the maximum €15,000 grant support with appropriately scaled back grants offered in accordance with the proposed salary for lower paid positions. Staff recruitment costs may also be considered eligible for grant aid.
- Rental/Accommodation Costs: For 1st year of project. (Note where rental space is already subsidised by an investment of public funds then grant support should reflect the differential between the market rate and subsidised rate). Rental costs may be paid up front subject to receipt by the Board of signed lease/rental agreements.
- Utility Costs: These include installation costs for telephone and broadband (Note: mobile phone costs are excluded).
- Marketing Costs: These include packaging, brochures, business cards, 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 Board's general training programmes.
The maximum Business Expansion Grant payable shall be 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. 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 €15,000 per full time job created shall apply in respect of any employment support granted.
All grants of a value greater than or equal to €50,000 or with a cumulative value of €100,000 over three years require Enterprise Ireland Approval.
A business that had availed of a Business Priming Grant will be ineligible to apply for a Business Expansion Grant until 12 months after approval/drawdown date of Priming Grant whichever is the later except in cases of exceptional merit and where less than the maximum Priming Grant was drawn down, and subject to the provisions in respect of 'De Minimus state aid'.
How can I apply for the Business Expansion Grant?
Contact us today to discuss your needs with one of our business advisers.
Is your business established less than 18 months? Check out our Priming Grant instead.
