Business Expansion Grant
Grants for business trading for a period longer than 18 months.
A business Expansion grant is designed to assist the business in it’s growth phase after the initial 18 months start up period.
The Business Expansion Grant is designed to assist the business in its growth phase after the initial 18 month start-up period. 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.
Business Expansion grants may be awarded to sole traders, partnerships, community groups or limited companies that fulfil all of the following criteria
· Located within County Limerick
· A business, which, on growth, may or may not have the capacity to fit the Enterprise Ireland portfolio
· A business employing up to 10 employees
· A Manufacturing or Internationally traded service business
· A Domestically traded service business with the potential to trade internationally.
The maximum Business Expansion Grant payable must not exceed 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 will be 50% of the investment or €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.
Expenditure may be considered under the following headings:
· Capital Items. These include fit out of workspace, office equipment, machinery, computer costs hardware & software etc (Note acquisition of buildings 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 subsidized 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 & 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 specialized management or key personnel training that are required to ensure the growth of the business. Such courses should not be generally available under the Boards general training programmes
Who is it available to?
- The proposed employment level must not exceed 10 people
- Business registered in County Limerick
- Business must be in manufacturing, internationally traded service
- Proposed business must not displace or put at risk any existing enterprises or industry
- Not be in receipt of funding from any other state agency or programme
- Comply with exisiting policies on tax and certification matters
To apply contact Limerick County Enterprise Board 061-496520 or to download the Business Expansion Grant application form, click here