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Start a Business Grant.....

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  • 05-09-2005 8:50pm
    #1
    IrlDigi
    Registered Users Posts: 72 ✭✭


    Guys,

    I have looked at Seed Capital fund which is more suited to people who leave employment and invest a fair bit of cash to start a new business. This doesn't really apply to me.

    In starting my business, I'm wondering if there are any grants or assistence available to keep my head above water while I build revenue ?

    Thanks,

    D


Comments

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    #2
    madramor
    Closed Accounts Posts: 324 ✭✭madramor


    your local enterprise board can give financial assistance
    in the form off:

    1. feasibility study grant €5100
    2. capital grant €63500
    3. employment grant €6350 per employee
    4. equity grant €63500


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    #3
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    I've tried to get a grant for a project I'm working on.

    Basically -

    Enterprise Ireland don't want to know unless you are already large and plan on exporting.

    IT projects are nearly impossible to get money for.

    The local authorities have very little cash to give out.

    Childcare projects can get cash very easily.

    ...

    Very frustrating!


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    #4
    Squalins
    Closed Accounts Posts: 1 ✭Squalins


    You could look at BES depending on your type of trade. It is not a grant but a facility for individual investors whereby can receive tax relief in respect of investment into certain companies. In general, the types of companies are Manufacturing, tourism, Research & Development, service companies, plant cultivation, music recording and certain companies established for the purpose of constructing and leasing advance factory buildings.

    An investor purchases ordinary shares in a company. Preferential shares are not allowed. Income Tax Relief can be claimed immediately where the company is established or after four month for a newly formed company. In the case where the company is not trading when the shares have been issued, the company must start trading within two years of the share issue. In the case of a Research & Development company, the company must start trading within three years of the share issue. The purchased shares must be retained for a five-year period in order to satisfy the BES Rules.

    This scheme was originally introduced in 1984 and was only supposed to last for three years. But it was so successful it was extended and the latest extension was announced in the 2003 FA giving the extension date to be 31st Dec 2006.

    Last time I looked at these they were on hold waiting for a commencement order to be passed following issued raised by the EU but this was about 10 months ago.


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