Applications Open For Business Continuity Voucher

01 Apr 2020 | 10.43 am

Applications Open For Business Continuity Voucher

€2,500 consultancy grant from LEOs

01 Apr 2020 | 10.43 am

A new Business Continuity Voucher is now available from Local Enterprise Offices, for sole traders and firms that employ up to 50 people. 

The voucher is worth up to €2,500 in third party consultancy costs and can be used by companies and sole traders to develop short-term and long-term strategies to respond to the Covid-19 pandemic. The goal is to help business owners make informed decisions about what immediate measures and actions should be taken to protect staff and sales.

Crucually, the scheme does not demand matched funding from participants.

To apply, you fill out a short application form and submit it direct to their Local Enterprise Office by e-mail.  When a company is issued with a voucher for third party consultancy, they begin working directly with a consultant selected from existing Local Enterprise Office and Enterprise Ireland panels.

LEO Network chair Oisin Geoghegan (pictured) said: “For a huge number of small businesses, survival is the overriding objective at this time, so making the right decisions is crucial. There is where the new Business Continuity Voucher can help. 

“The kind of areas that the voucher will help will vary, depending on the needs of each business, but it will include very important measures such as preparing a business case for application to emergency funding, developing a business continuity plan, reducing variable costs, reviewing and exploring supply chain financing options, implementing remote working processes or procedures, and leveraging expertise in HR and ICT.”

Enterprise minister Heather Humphreys listed the purposes of the voucher scheme:

  • Develop a business continuity plan
  • Assess current financial needs in the short term to medium term
  • Reduce variable costs, overheads and expenses,
  • Review and explore supply chain financing options
  • Implement remote working processes or procedures
  • Leverage HR expertise
  • Leverage ICT expertise
  • Prepare a business case for application to emergency financial interventions available through banks, SBCI, and Microfinance Ireland.

The voucher is not available to clients of Enterprise Ireland.

 

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