LEOs Launch €2m Fund For Micro Businesses

15 Sep 2020 | 11.59 am

LEOs Launch €2m Fund For Micro Businesses

Grant of up to €1,000

15 Sep 2020 | 11.59 am

Micro businesses that are ineligible for existing grants will be able to access LEO funding of up to €1,000 to help them adapt and rebuild their business in the wake of Covid-19.

The new €2m Micro-Enterprise Assistance Fund is aimed at businesses with fewer than 10 employees. “While many businesses have benefitted from the Restart Grant Plus and other government schemes, this is for small businesses with up to 10 staff that have not been eligible to any scheme to date,” said business minister Leo Varadkar.

“It is recognition of the difficulties in adapting to Covid-19 that they have had. Now is the time to shop local and I encourage everyone to think of their local business owner when doing their weekly shop or looking to buy something.”

Government advice for business on Getting Brexit Ready

The Micro-Enterprise Assistance Fund is available to businesses that meet the following criteria:

  • Businesses impacted by a 30% reduction in turnover due to Covid-19 restrictions or downturn in trade
  • The grant will be based on the amount of vouched additional expenditure from 14 September 2020
  • Employers with between with at least one and up to 10 full-time employees
  • Businesses that have a commercial focus, have an up-to-date tax compliance certificate and within eligible sectors
  • Businesses that are ineligible for other state sectoral funding schemes
  • Businesses already in receipt of the government’s Restart/Restart Plus Grant, Fáilte Ireland Restart Plus scheme or the DEASP Enterprise Support Grant for Small Business are excluded.

Tom Rooney, Head of Enterprise at LEO South Dublin, commented: “With so many concerns to juggle, we want entrepreneurs and business owners to know that our team at the Local Enterprise Office are here to help them get through the current crisis. Whatever product you sell or service you provide, we can deliver the support you need to bring your business to the next level, even in these challenging times.”

LEO South Dublin will launch the Brexit-focused ‘Custom Ready’ workshop series on September 23, with further workshops planned for October.

Photo: Jessica Conlon of childcare specialists Twigs and James Redmond of technology company Fetch with Tom Rooney and Justin Mulhearn (left) from LEO South Dublin. (Pic: Ben Ryan)

 

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