Project Assitance and Funding
County / City Enterprise Boards
Sole traders or individuals seeking to develop a new product, and who do not intend to employ more than ten people in three years, can apply for a range of supports from their local County/City Enterprise Board (CEB).

In all there are thirty-five CEB's in Ireland and they equate broadly to local councils. Apart from providing advice and training on a wide range of business areas they also provide a range of grants towards feasibility studies, market research, prototype production, employment and capital equipment acquisition.

Each CEB operates autonomously and is dedicated to supporting business development in its own borough. They have their own boards to approve projects at local level and are therefore very effective in actually getting projects off the ground and opening doors to greater funding in the future.

For more information please visit www.enterpriseboards.ie or Contact Us today.


The Business Expansion Scheme
This is a government initiative which allows equity investment in qualifying businesses of up to €2m.

This investment can be applied for if the maximum investment in a single company in any 12 month period is €1.5m and it must be a qualifying business in one of the qualifying trades - the details of which can be found on www.revenue.ie.

Tax relief is available to the participant at the claimants higher rate of income tax and to avail of these tax relief benefits the investment must remain in place for five years.

No single individual can invest more than €150,000 in a single year and the relief should enable individuals to deduct the cost of their qualifying investment from their total income up to €150,000 in a given tax year. This scheme is currently available to approved businesses until December 31st 2013.






Seed Capital Scheme
The Business Expansion Scheme provides tax relief for investment in certain corporate trades, while the Seed Capital Scheme provides for a refund of tax already paid by an individual, when that individual sets up, and takes employment in, a new qualifying business (as defined by the Revenue Commissioners).

Under the Scheme an unemployed person or an employee who leave employment and invests by means of shares in a company, which carries on a new business, may claim a refund of tax paid in previous years.

For more information visit www.revenu.ie.














Venture Capital
Assuming that the intention is to establish a business and to grow that business into the future (rather than having a one or two person type business) so that it owns assets,employs several staff and has year on year growth in turnover then it may be worth considering the involvement of private equity investors from an early stage as an option for funding growth and development.

Typically Venture Capitalists will buy equity in the business which provides funding for growth outside the normal retained earnings of the business but they will seek specific and detailed exit mechanisms usually within 3 to 5 years and usually in the order of 3 to 5 times their investment.

As a starter they will require a comprehensive business plan outlining the future strategy of the management team and as a rule they tend not to invest in start up businesses or established businesses which are not showing year on year profits. Many of the funds prefer projects in the high tech or food technology sectors and the minimum investment tends to be in the order of €500k to €1m with a maximum in the order of €2m.



Enterprise Ireland
Enterprise Ireland is the state body charged with the development of indigenous industry and the disbursement of government funding to support Irish industry.

They offer assistance under the following categories; start a business, grow your business, export, research and innovate and source from Ireland. In order to qualify you must have a business or intend to have a business which manufactures an export orientated product or offers an internationally traded service, which is or will be located and controlled in Ireland.

Your business must offer a product or service which is technologically advanced and it must aim to realise sales of €1m and employment of 10 people or more within 3 years.
For more information please visit www.enterprise-ireland.com or Contact Us today.








Dublin Business Innovation Centre
DBIC was formed in 1987 with support for the EU, Dublin Chamber of Commerce and local private, public and higher education sectors to assist the creation and the development of enterprise and innovation in the Dublin region by providing practical support and assistance to entrepreneurs and new and young enterprises with the potential for growth.

It acts as a facilitator to the entrepreneur in finding practical solutions to problems in a responsive, non-bureaucratic way. These activities compliment the assistance and service provided by the State agencies and the private sectors.

Three main areas in which it assists entrepreneurs are incubation office space, business planning and accessing funding. There are sister organisations in Northern Ireland, Cork, the South East and the West.

For more information please visit www.dbic.ie or Contact Us today.





Industrial Development Authority
A range of services and incentives, including funding and grants, are available to those considering foreign direct investment in Ireland.

These are offered by IDA Ireland, Ireland’s inward investment promotion agency, to both new and existing clients. While investment from overseas manufacturing and internationally traded services are the broad focus, the agency continues to work with investors once in Ireland to encourage and assist in expanding and developing their businesses.

The IDA are focused on securing investment from new and existing clients in the areas of High End Manufacturing, Global Services (including Financial Services) and Research, Development and Innovation.

Key sectors within these areas for investment are Life Sciences (Pharmaceutical, Biopharmaceutical and Medical Technologies), Information Communications Technology (ICT), Engineering, Professional Services, Digital Media, Consumer Brands and International Services.


Development Alliances
For large companies including MNC's even though they may be cash rich on paper it is often difficult for individual departments, marketing personnel, or project managers to access the necessary funding to develop a new product or to improve the functionality or design of an existing product.

In such cases where a budget may be available for the procurement of marketing or promotional merchandise but not for design or tooling it is entirely appropriate for the business unit to enter what we call a development alliance with a design company.

In this case the design company would undertake all of the design, development, market testing, tooling and initial production at its own cost without any contribution from the client on the basis that these costs would be amortised into the product cost and the client would contractually agree to purchase a specific number over an agreed timescale.

This creates a strong relationship between the two businesses as both of their futures are inextricably linked to the success of the product in the market.
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