EI Grant For Financial Planning
Enterprise Ireland’s Business Response Hub has been at full tilt since March, providing Covid-19 related advice and assistance to more than 5,600 businesses. “Financial planning advice is one of their key priorities,” says Leo McAdams, Divisional Manager in Enterprise Ireland’s Finance and Investment Services department.
“In response, we launched the
Business Financial Planning Grant, worth up to €5,000, to help businesses prepare a robust financial plan and identify short to medium-term funding and cashflow needs.”
Cashflow and liquidity are also big concerns for businesses. McAdams explains that Enterprise Ireland’s
Sustaining Enterprise Fund aims to support manufacturing and exporting companies in their liquidity needs.
“The fund is tailored to support businesses of varying sizes and up to €800,000 is available. Changes announced in the July Jobs Stimulus package will now see 50% of funding, up to a cap of €200,000, provided on a non-repayable basis. For example, if a company is approved €400,000 in SEF funding, €200,000 is nonrepayable.”
For businesses returning to work, the Lean Business Continuity Grant provides funding of up to €2,500 to secure advice or training for management on how to return to work safely. Many companies contacting Enterprise Ireland are also availing of the Restart Grant Plus available through local authorities.
While Covid-19 is predominant in the minds of business owners, McAdams is urging them not to forget about Brexit. “Companies need to look at issues such as supply chains, customs changes and regulatory implications. Support and advice is available, such as the new SME
customs support announced as part of the July Jobs Stimulus.”
McAdams notes that many companies are diversifying their export markets as a response to Brexit and Covid-19. “Through our overseas network, Enterprise Ireland has unique insight into opportunities, as markets reopen following the Covid-19 pandemic. We are there to assist Irish companies. We’re also delivering market insight sessions online and focusing on online selling skills.”