Grant Applications

petscul

I'm thinking about setting up a small business employing approx 10 people by the end of year 1.

I've gone about getting application forms from my local enterprise board for training and salary assistance grants.

Has anyone had any success with the above?

Our business will be as a service industry.

Are their any other grants that would help initially with the running costs of the business?

Would I be best to finish my business plan and arrange a meeting with my local enterprise board and discuss this further?

antoinolachtnai

Where are you and what is the industry?

If you are going to employ 10 people by end of year 1, I assume you have a turnover for year two of .5 million planned. Presumably you will have a profit of around eur 50k for year two, and more in year two and three. (Of course making a profit doesn't mean you will be cash-positive.

To do this, you will need quite a lot of capital. Realistically, the CEB is going to give you around 10 grand at the most if you are not export-oriented, and there are restrictions on what you can use this money for. You will probably need around at least 100k bare minimum, probably more than that. The grant isn't really going to be much help.