Grants available from Local Enterprise Office Offaly for business start up and business expansion

Offaly Express Reporter

Reporter:

Offaly Express Reporter

Email:

news@offalyexpress.ie

Grants available from Local Enterprise Office Offaly for business start up and business expansion

Grants available from Local Enterprise Office Offaly for business start up and business expansion

Local Enterprise Office Offaly can provide financial assistance to eligible businesses in the manufacturing or internationally traded services sectors.

The funding can be used towards taking on staff, purchasing equipment and other business requirements. These grants are available for business start up and business expansion provided that the enterprise is eligible and capable of becoming commercially viable.

Priming grants are start-up grants available to micro-enterprises within the first 18 months of start-up. To be eligible for this grant, the business must be located in Offaly and employ from one to 10 employees.

Business Expansion grants are available to businesses in Offaly who are in growth phase after the initial 18 month start up period. As above, the business must employ between 1 and 10 full time employees. Business owners who have received grants in the past may re-apply as their business expands.

Speaking about the funding, Orla Martin, Head of Enterprise explained, “Local Enterprise staff are working with aspiring entrepreneurs and existing business owners on a day to day basis. At first hand, we can see the benefit of providing targeted financial assistance to a start-up or growing company. The application process is good for the client too, as it encourages them to see the strengths and any possible weaknesses in their business plan”.

Orla Martin acknowledged that not all businesses meet the criteria for grants, but added that there are alternatives. The Local Enterprise Office has a partnership agreement with Microfinance Ireland, providing business loans of up to €25,000.

Sole Traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Unlike some of the other financial supports available from the LEO, all business sectors are eligible to apply for Microfinance loans. Loans can be used to fund start-ups, existing and growth microenterprises and can be used for working capital or the hiring of new employees, the purchase of stock, equipment, machinery and business vehicles.

The Local Enterprise Office is the “one stop shop” for anyone looking to start or grow a business. In addition to free information, advice and networking, the Local Enterprise Office provides subsidised enterprise training, mentoring and grant assistance to eligible businesses.

If you would like to apply for any of the above grants, or require any further information, please contact the Local Enterprise Office on 057 9357480 or email info@leo.offalycoco.ie