Start-up businesses in Ireland can apply for grants and funding from the Local Enterprise Offices, Enterprise Ireland and a range of private programmes, and can also use tax reliefs designed for new businesses. This guide explains the main business grants for start-ups and small businesses, who each one is for, and where to apply. If you have not yet set up your company, see our guide to the types of companies in Ireland.
Government Support Programs
Ireland, recognised as one of Europe’s top locations for businesses, offers an array of innovative initiatives and well-established funding programs aimed at business development and growth. The government’s strategic goal is to foster a robust entrepreneurial culture and to provide a conducive environment for businesses at all stages, from startups to multinational corporations.
Local Enterprise Office (LEO) Grants for Start-ups and Small Businesses
There are 31 Local Enterprise Offices, one in each local authority area, and they are the first stop for start-ups and businesses with up to 50 employees. Their grants mainly support manufacturing and internationally traded services, while advice, training and mentoring are open to businesses in all sectors. The main grants are:
- Feasibility Study Grant: helps you research the market for a new product or service and test whether the idea is viable before you invest.
- Priming Grant: a business start-up grant for micro enterprises in their first 18 months of trading, covering part of the cost of getting the business off the ground.
- Business Expansion Grant: for small businesses past the initial 18-month start-up period that are ready to grow.
- Grow Digital Voucher: co-funds investment in digital tools and technology for small businesses; ask your LEO which digital vouchers are open, as these schemes change.
- Green and energy supports: programmes such as Green for Micro and the Energy Efficiency Grant help small firms cut energy use and costs.
Grant rates and limits are set nationally and change from time to time, and each LEO assesses applications against its own criteria. Check the current terms with your Local Enterprise Office on localenterprise.ie before you apply.
Enterprise Ireland Funding for Start-ups
Enterprise Ireland supports Irish companies that plan to sell into international markets. Its main start-up supports are:
- Pre-Seed Start Fund: early-stage investment for innovative start-ups in manufacturing and internationally traded services, made as a convertible loan note, together with a development adviser and start-up supports.
- High Potential Start-Up (HPSU) support: equity investment and support for start-ups with an innovative product or service for international markets and the potential to create 10 jobs and €1 million in sales within three to four years.
- Innovation Voucher: lets a small business buy expert help from a college or research institute to solve a technical or business problem.
- Agile Innovation Fund: fast-track support for product, process or service development projects.
- Intellectual Property Strategy Offer: funding to develop a strategy for protecting the company’s intellectual property.
Tax Reliefs for Start-ups
Alongside grants, Revenue offers tax reliefs that reduce the cost of starting up: the start-up company exemption from Corporation Tax for qualifying new companies in their first years of trading, the R&D tax credit for qualifying research and development, and the Start-up Refunds for Entrepreneurs (SURE) scheme, which can refund income tax paid in earlier years to people who invest in a new business. Each has its own conditions, so check them with your accountant before you rely on them.
Support from Private Bodies
In addition to government support, there are many private organizations that offer different forms of assistance to businesses in Ireland. These may include accelerators and incubators, venture capital firms, angel investors, and various business networks. They can provide financial investment, mentorship, workspace, and many other resources.
Social Entrepreneurs Ireland
The Social Entrepreneurs Ireland is a non-profit organization that provides funding, mentoring, and support to individuals with innovative ideas to tackle Ireland’s social problems. The organization has a proven track record of helping entrepreneurs to scale their impact and build sustainable organizations.
NDRC
The NDRC is an early-stage investor in tech companies. They offer a combination of investment capital and a highly focused accelerator program to Irish startups.
Furthr
Furthr is a climate tech accelerator based in Ireland. They offer a 12-week program that includes funding, mentorship, workspace, and more to startups with solutions that can help tackle the climate crisis.
Business Innovation Centers
The Business Innovation Centers in Ireland support entrepreneurs as they build their innovative companies. They offer a variety of services including advice, coaching, mentorship, networking opportunities, and access to finance.
Support for Women-led Businesses
Recognizing the crucial role of gender diversity in business, several initiatives exist specifically to support women entrepreneurs in Ireland. These programs provide a range of services, including funding, mentorship, training, and networking opportunities, all geared toward facilitating the success of women-led businesses.
HPSU for Women
The HPSU for Women is a specific initiative of Enterprise Ireland that provides tailored supports for women-led startups that show high growth potential. These supports include access to funding, mentorship, and networking opportunities.
Going for Growth
Going for Growth is an initiative designed to support women entrepreneurs living in Ireland. It offers peer support, the collective wisdom of seasoned entrepreneurs, and access to an extensive business network.
Accelerating the Creation Of Rural Nascent Start-ups (ACORNS)
ACORNS is a program designed for early-stage female entrepreneurs living in rural Ireland. It offers participants the opportunity to increase the success of their startup through facilitated peer learning, networking, and the sharing of experiences.
Support for Startups Moving to Ireland
For foreign entrepreneurs considering Ireland as a business destination, there are several programs aimed at easing the transition. These include immigration programs, financial incentives, resources to help find the right location for your business, and practical assistance to navigate the legal and regulatory requirements.
IDA Ireland
IDA Ireland works with foreign companies, encouraging them to invest in Ireland. It offers a range of incentives to overseas businesses, from tax benefits to grant assistance, as well as practical supports such as help finding the right location for their business.
Startup Entrepreneur Programme (STEP)
The Startup Entrepreneur Programme (STEP) allows non-European Union/European Economic Area nationals and their families to establish businesses in Ireland and reside in a country on a full-time basis. STEP program, is available for individuals who have not been convicted of criminal offences, have €50,000 funding available, and have an innovative business proposal.
Back for Business
The Back for Business is a unique initiative for returned emigrants who have lived abroad for at least a year and have returned in the last three years. It assists them in starting and developing businesses in Ireland.
Government Programs of Individual Support
The Irish government also offers programs aimed at individuals who are considering starting a business, especially those transitioning from unemployment. These programs provide financial support, training, and resources to help individuals start and grow their businesses.
Back to Work Enterprise Allowance (BTWEA)
The BTWEA encourages people getting certain social welfare payments to become self-employed. If you take part in the BTWEA scheme, you can keep a percentage of your social welfare payment for up to 2 years.
Short-Term Enterprise Allowance (STEA)
The STEA helps support people who have lost their job and want to start their own business. It provides a weekly allowance that helps bridge the financial gap in the early stages of a new business.
Wrapping Up – Grow your Business with Support and Grants Programs in Ireland
Ireland’s reputation as a business-friendly destination is well-deserved. The country offers a robust ecosystem for businesses to grow and flourish. With a wide array of support systems ranging from financial grants to advisory services, government and private organisations stand ready to assist businesses at all stages. By leveraging the multitude of support and grants for businesses in Ireland available, local entrepreneurs can pave their way to business success.
At Chern & Co, we’re committed to helping entrepreneurs establish and grow their business in Ireland. If you’re looking for assistance with registering business as a sole trader or limited company, don’t hesitate to contact us. We provide a full scope of company formation, accounting, and tax registration services to streamline your entrepreneurial journey in Ireland!
Related guide: eyeing a high-growth sector? The Irish home-energy retrofit boom, backed by a record SEAI grant budget, is driving strong demand for insulation, window and heat-pump installers. See this overview of retrofit installer opportunities in Ireland.
