Dáil Éireann Debate, Wednesday - 22 January 2025
450. Deputy Niamh Smyth asked the Minister for Enterprise, Trade and Employment to review correspondence (details supplied); if he will offer any advice on grants or supports open to this person in setting up their own business; and if he will make a statement on the matter. [1720/25]
Amharc ar fhreagraThe Local Enterprise Office (LEO) in Monaghan offers a wide range of high-quality business and management development programmes that are tailored to meet specific business requirements. Whether it is a new start up or growing an existing business there are programmes that are suitable for anyone exploring self-employment as an option or for those who are currently operating a business and wish to learn more.
The SYOB programme guides clients through the various aspects of business and business planning. It highlights the importance of planning ahead when setting up a new venture. Preparation is the single most important thing you can do to ensure that a fledging business gets off the ground and continues flying. The objective of the SYOB is to assist clients in honestly assessing their business idea, its viability and help them decide if they should proceed or take a step back. Subsequent to this the LEO Business advisors will be able to provide this individual with advice and guidance on the best next steps to take to get their business idea up and running.
LEOs can provide direct financial grant assistance to small businesses in the manufacturing and internationally traded services sectors. These grants cannot be provided to businesses in areas such as personal services, local retail, or local professional services as it may give rise to displacement of businesses in the locality.
Small business loans are also available through Micro-Finance Ireland (MFI), which is a not for profit lender that offers small business loans of up to €50,000 (unsecured). Loans for commercially viable proposals can be used to help fund start-up costs, working capital or business expansion and by applying through their Local Enterprise Office, clients can avail of a 1% reduction in the interest rate charged.
A business may also be able to avail of the Jobs Plus Scheme, available through the Department of Social Protection, which is an employer incentive which encourages and rewards employers who offer employment opportunities to individuals who are unemployed. It provides employers with two levels of payment: €7,500 or €10,000 over 18 months, with the level of payment depending on the age of the jobseeker and the length of time in receipt of a qualifying payment.
LEOs also provide consultancy and funding in the areas of Lean, Green and Digital which are available to a broader range of locally traded businesses. These schemes are focused on providing capital to established businesses to assist in implementation of recommendations to digitalise or decarbonise a business. These schemes will also enhance the productivity and improve the competitiveness of small businesses.
The Deputy will also be aware of the National Enterprise Hub (NEH) which provides a centralised signposting service for over 230 Government supports. This excellent resource is available to all small business owners and can provide information and a point of contact to relevant government bodies.
