Business Expansion Grant

The Business Expansion Grant is designed to assist qualifying businesses in their growth phase after the initial 18 month start-up period

The maximum grant payable shall be 50% of the investment or €100,000 whichever is the lesser.

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. 

In exceptional circumstances, grants over €100,000 and up to €150,000 for projects that clearly demonstrate a potential to graduate to Enterprise Ireland may be considered.

What are the Eligibility Requirements?

Business Expansion Grants may be awarded to sole traders, partnerships, community groups or limited companies.  

The following criteria apply:

  • Business must be located within Galway city or county
  • 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
  • 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

What expenditure is eligible under the Business Expansion Grant?

Capital Items

These 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 installments. The first installment at the commencement of employment and the second installment 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 €10,000 grant support with appropriately scaled back grants offered in accordance with 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.

Marketing Costs

These include packaging, brochures,  business cards, trade fairs, website design and development and other marketing initiatives.

How to apply:

Arrange a 1:1 appointment to discuss your support needs. Call (091)509090 or Email: info@leo.galwaycoco.ie

FOR A BROCHURE ON ALL THE FINANCIAL SUPPORTS OFFERED BY LEO GALWAY, CLICK HERE

 

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