The Business Expansion Grant is designed to assist qualifying businesses in their growth phase after the initial 18 month start-up period. The maximum Business Expansion Grant payable is 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 and/or to export internationally. In all other cases, the maximum grant shall be 50% of the investment of €80,000 whichever is the lesser. Subject to the 50% limit, a maximum grant of up to €15,000 per full time job created shall apply in respect of any employment support grant aid.
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 Mayo
- 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, fixed technology 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 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 supplying the LEO with a signed lease/rental agreement.
Utility Costs
These include installation costs for telephone and broadband (Note: mobile phone costs are excluded).
Consultancy, Innovation and Marketing Costs
These include packaging, brochures, business cards, trade fairs, website development, consultancy fees and other marketing initiatives.
How can I apply for the Business Expansion Grant?
Contact us today to discuss your needs with one of our Business Advisors.
Is your business established less than 18 months? Check out our Priming Grant instead.
