The National Internship Scheme has proved such a success that it will be extended into 2013 and the number of places have been increased by 1000 in order to keep up with demand. In the past ten months alone, over 6,800 internships have been provided through private enterprises, the public service and voluntary groups.
The scheme will also be extended at the end of May to include those in receipt of One Parent Family Payment and Disability Allowance. The success of the scheme can be seen when you examine the figures which show that of the 2,000 people who have completed the scheme, 797 have gone into full time employment and the feedback from participants is also positive with 93% of interns surveyed said they would recommend the scheme to a friend.
For further information on the National Internship Scheme, visit http://www.jobbridge.ie/
ConnectIreland was appointed by the IDA as part of the 2012 Action for Jobs. It is a referral programme aimed at creating new jobs in Ireland by targeting introductions and referrals from the Irish Diaspora from all across the world.
The programme is certainly innovative and aims to promote Ireland as the perfect location for high tech international companies. Recent years has seen a flood of high profile companies such as LinkedIn, Google, eBay, Microsoft, HP, Intel, Siemens, Pfizer and Boston Scientific set up in Ireland and the aim it to attract even more of these high calibre companies to set up bases here.
How will the scheme work?
The aim is to incentivise and reward the introductions between ConnectIreland and a connection in a company that is expanding internationally.
Exhibitions and trade fairs are the ideal way of meeting new customers, entering new markets and building industry contacts but they can be expensive especially if they involve travelling to another country. For businesses that fit the criteria of Enterprise Ireland, they can receive up to 50% of the eligible costs of taking part or visiting a exhibition or trade fair in Ireland or abroad.
Am I eligible?
You are eligible to apply for this funding if you are one of the following:
- A manufacturing or internationally traded services SME company employing 10-249 people.
- A new High Potential Start-Up company.
- Not eligible to receive the support applied for from An Bord Bia or An Bord Iascaigh Mhara.
What costs are eligible ?
The cost of a company's first-time participation in any recognised trade fair outside Ireland may be eligible for assistance. This includes the costs incurred while preparing and participating in the trade fair or those incurred in taking a stand or simply visiting the fair.
The announcement of the new Credit Guarantee Bill was warmly welcomed last week as it will provide much needed credit to an expected 1800 Irish businesses. The scheme will facilitate up to €150 million a year of additional lending to SMEs and will provide State guarantee for up to 75% to banks against losses on loans to firms with growth potential.
Industry experts and trade agencies are still questioning some aspects of the scheme including the issue that the duration of the Credit Guarantee Bill of 3 years may be too short of a loan time for many businesses. The scheme launch date is still unclear but it is thought to come into play at the end of the Summer.
What Business can and Cannot avail of the Credit Guarantee Scheme?
- Overdrafts, property related activities and agriculture are all excluded from the scheme.
- Food and drink sectors will be able to apply for the scheme.
- Business must be able to demonstrate that they have a good company record and have the ability to grow but just lack enough funding to reach their potential.
- In the case of start-ups, they will need to demonstrate the potential of the business to achieve sales should they be funded in order to receive funding under the scheme.
- To qualify, a firm must not employ more than 250 employees.
Enterprise Ireland are offering support to SME businesses interested in recruiting a senior manager to bring their business to the next level in development. Key manager recruitment can make a huge difference in the growth of many businesses and it can be a real turning point for the business future success. The Recruitment of Key Manager initiative aim is to contribute significant and measurable improvements in company productivity or create changes in output to better meet market requirements.
The support provides partial funding of the costs involved in recruiting the key person.
If you have an existing website which needs to be replaced or you would like to create a website to promote your business, your local County Enterprise Board currently have funding. The requirements and funding available varies from county to county but currently Cavan County Enterprise Board will grant up to €750 of the cost of a website and Monaghan County Enterprise Board will grant up to €1000 providing the website has an eCommerce shopping facilty.
For many businesses, a website can be a really useful promotional tool and a great way of targeting customers to your business. Your website is available to your customers, 24 hours a day, 7 days a week so it is vital that it reflects your business correctly.
The
Action Plan for Jobswas launched last week by Government and sets out 270 actions to be implemented in the year ahead. The plan will impact on all government departments and state agencies to help stimulate job creation and support business growth.
The plan includes the creation of a ‘one-stop shop’ for small business supports involving a new Micro-Enterprise and Small Business Unit in Enterprise Ireland. This will result in the dissolution of the City and County Enterprise Boards and the new unit will worth with local authorities to establish a new network of Local Enterprise Offices in each local authority.
The aim of the unit is to support small and medium sized businesses to help them access credit and develop their businesses to increase employment. The plan includes the creation of a €150million Development Capital Scheme which will address the funding needs of mid-sized, high-growth indigenous companies with strong prospects for job creation and export growth. Funding will also be made available through a €100million Micro-Finance Loan Scheme which will also be introduced under the plan.
Each year, the number of festivals are growing throughout the country. These events can help attract tourists to your local town or community and Fáilte Ireland is offering financial support to festival and event organisers hosting activities during 2012.
Failte Ireland's Festivals and Events Initiative aims to assistfestivals and participative events that attract significant numbers ofovernight visitors to the host locality, animate key destinations withinIreland, and provide quality visitor experiences of the country'sculture, heritage and landscape.
Financial assistance is available through two main programmes:
- The National Festivals and Participative Events Programme supports events that attract international visitors to Ireland.
- The Regional Festivals and Participative Events Programme supports events that drive domestic tourism and help to improve the visitor experience by animating key destinations in the country.
In awarding funding Fáilte Ireland will prioritise events thatdemonstrate a track record in bringing tourism benefits to a locality,attract overnight visitors to Fáilte Ireland-approved accommodation, andraise awareness or bring media coverage to attractions in the locality.
The deadline for the submission of applications for both programmes is
13 January 2012. For more information on this grant, click here.
Amatino Partners are bringing their business roadshow to the Headfort Arms Hotel, Kells on Wednesday the 5th of October.
We are offering local business owners a
free, private consultation to discuss any issues regarding accounts, taxation, grants, marketing or other business issues.
We offer a full range of competitively priced services to our clients including:
• Preparation of Accounts & Taxation Returns
• Tax Planning & Consultancy
• Outsourced bookkeeping & payroll
• Assistance with bank and grant applications
• Marketing Consultancy
• Business Advisory services including debtor & cashflow management programmes, cost reduction programmes, ISO quality assurance and assistance with public sector tendering.
To Book a place, call Grainne Brady on 047 84955 or email
grainne@amatino.ie
Enterprise Ireland have R&D funding available to help businesses to develop innovative products and services which can compete in the Irish and international markets. The aim of this funding is to support the development and growth of these businesses to help increase sustainable employment and generate revenue. For many businesses, growth can be slow and the development of an idea, product or service can be significantly hindered by a lack of investment and that is where Enterprise Ireland can help.
The R&D Fund will help companies to achieve the following:
- A demonstrable connection between R&D and the overall business objectives.
- A culture of innovative thinking throughout the company which aims to harness the creativity of all the staff towards defined business goals.
- A significant ongoing/established R&D budget.
- An established R&D team with high level skills.
- High quality facilities for R&D.
- Good quality R&D management systems and procedures.
To be eligible to apply for this funding, your business must be an Irish based manufacturing or internationally traded services company which can show adequate cash resources to implement the proposed R&D project.
The
Going Global Fund is a competitive fund which is focused on locally trading companies that have successfully established businesses in Ireland, and wish to
explore opportunities to internationalise their business as a route to growth.The fund is designed to assist successful applicants to;
- evaluate and assess overseas market opportunities,
- develop plans to localise their current service/product offer for overseas markets,
- identify suitable channels to international markets,
- examine possibilities for web-enabling its service offer for export markets and,
- undertake overseas market research.
Am I eligible?The fund is open to existing and potential clients of Enterprise Ireland that meet the following criteria:
- Carries out an eligible service activity or has a manufacturing business in the Republic of Ireland.
- Has received less than €50,000 (excluding ESS support) in funding from Enterprise Ireland over the last 5 years
- Employs 10 or more employees.
- Has been generating reasonable levels of revenue for at least 2 years.
What is the maximum funding available?The maximum support is €25,000 grant.
The maximum support rate is 50% of all eligible costs. Eligible costs include wages/salaries; consultancy costs; travel and subsistence in addition to overhead costs.
Funding is approved by an Enterprise Ireland committee on a competitive basis and will be subject to an assessment process.
How to apply?- Applicants must download and read the Going Global Reference Document and Application Form from the Enterprise Ireland website.
- All applications for funding should be discussed with your Development Adviser prior to submission. Salaries/wages and overheads may only be included in your application following discussions with your Development Adviser.
- Following discussions with your Development Adviser, you will need to complete the application, attach your company's latest set of annual financial accounts and submit before the call close date.
- Applications should be emailed to the Enterprise Ireland Going Global Fund email address: csugoingglobal@enterprise-ireland.com
Alternatively, if you are not currently a client of Enterprise Ireland, new applicants should contact the International Services Team on 01-727 2100 or email going.global@enterprise-ireland.com
Any expenditure incurred prior to the call close date will not be considered eligible for support.
The next call
close date for the Going Global Fund is 22nd September 2011. Completed applications must be received on or before 6.00pm on the call close date.
For more information on the Going Global Fund, contact the International Services Team on 01-7272100 or email going.global@enterprise-ireland.com
Enterprise Ireland's Seed and Venture Capital Programme was set up to boost the development of start up businesses and this type of investment is strongly needed to help these businesses make an impact in the export market. Last year alone, Enterprise Ireland invested €42m in 74 companies and €52m was invested in 64 companies in 2009.
This critical funding is a life line to businesses struggling to enter export markets and provides support and employment to businesses.
During the year, there was an increase of €18 million in seed capital funding available to Irish companies:
- €17 million Bank of Ireland Start-up and Emerging Sectors Equity Fund 2010.
- €1 million investment by Galway University Foundation in the original Bank of Ireland Seed and Early Stage Equity.
- €75 million Atlantic Bridge II Limited Partnership Fund, which will build upon the strong performance of the previous Atlantic Bridge Fund.
So if you are thinking of starting a business suitable for the export market, contact Barry Kieran for advice on funding, grants and business planning, 047 84955.
Bank of Ireland have recently launched a €200m Agri Farm Investment Fund to support the financial needs of the agricultural sector. The fund is open to new and existing customers and is available to agri related SME businesses including farmers and food related businesses. The aim of the investment fund is to help businesses and farmers finance new investment requirements to grow business opportunities set out in the Food Harvest 2020 report.
The fund is available for investment in a wide variety of purposes ranging from the purchase of machinery, land or stock to the construction or refurbishment of farming buildings.
Customers who wish to avail of the fund can contact their local branch for details.
Amatino Partners are the very proud sponsors of the
Cancer Tractor Run which involves a non-stop tractor run from Mizen Head in West Cork to Malin Head in North Donegal using a vintage Ford 4600 Tractor. This exciting and novel idea is in aid of St Christopher's Hospice in Cavan and Monaghan's Cancer Homecare/Palliative Care who support cancer patients and their families.
The tractor will run non-stop and will pull an accommodation unit which will house fuel and the relay team of drivers. The accommodation unit will advertise the businesses and individuals who have supported the event so if you would like to donate, call
Michael O Reilly on 085 1741923.
We are offering a FREE one-to-one business workshop on the 17th of May in the Shirley Arms Hotel from 2-7pm. We will provide practical and relevant advice on how to deal with the following business challenges:
• Debt Management – Create workable solutions to collect cash quicker.
• Stock Management – Holding stock costs you dearly if not properly managed, we can help you manage your stock effectively.
• Product Margins – Do you know your best/worst performing products with regard to cashflow?
• Cost Management – In these challenging times, the businesses which are surviving best are getting more for less from their available sources. We can help you introduce workable strategies to ensure your business costs are managed efficiently.
• Marketing – Practical Marketing activities can help you retain your customer base and attract new customers to your business.
At Amatino Partners, we work with businesses in a wide variety of sectors and we can advise you on the current best practices for your sector.
Writing a business plan is a crucial first step when setting up a business. A business plan is the blueprints for your business it can help you navigate and manage your company while also helping potential investors, partners, and lenders understand your business strategy and your chances at success. It can help you describe your product or service, detail your marketing strategy, and lay out your sales and operational forecasts, including the ever important cash-flow projection so as to keep your business on track for profits.
The Irish County Enterprise Board has a grant available for new micro enterprises in the first 18 months of start up. This grant will be available to:
• Community groups,
• Sole traders,
• Limited companies,
• Partnerships.
For this grant to be available to you, you must fulfill the following criteria…
• A domestically traded services business with the potential to trade globally,
• A business which will recruit up to 10 employees,
• A business situated within the CEB’s geographic region,
• A business which on growth may or may not fit the Enterprise Ireland portfolio,
• Unemployed persons where the potential for deadweight and displacement does not exist,
• A manufacturing or globally traded services business,
• A domestically traded services business being established by a female returning to the workforce.
There is a maximum grant of €15,000 per full time employment created this shall apply in respect of any employment support grant aided. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is smaller amount.
Grants which are €80,000 and up to €150,000 shall be the exception and will only apply in the case of businesses that clearly display a potential to graduate to Enterprise Ireland and/or to export globally.
Many farm owners put off planning for the succession of their farm but this should not be the case. Careful planning now, can ensure that the farm can be passed in a tax efficient way to the next generation.
There are 3 main types of tax involved:
- Capital Gains
- Capital Acquisitions Tax
- Stamp Duty
Click here for the full information and tips on how to plan for your farm succession.
1. Good Reasons to Start a Business in Recessionary Times
• Lower Costs
• Labour is cheaper
• Rents Cheaper
• Using the latest technologies in your business – cost advantage
• People are shopping around looking for better value – this creates opportunities for the starters.
• Cost base will be lower – therefore better able to compete with more established business.
• SME are corner stone of employment in local economy
• SME are flexible and adaptable.
• Think like a large business from the start
2. Financials - Know your numbers
• Enough Cash to get started and keep your business financed until it starts making profits – usually after year 1
• Big failure of start up business – insufficient cash
• Work out the set up costs + running costs
• Project your sales figures
• Tendency to under estimate the costs and over estimate the sales income = ,Leads to early problems
• Sources of finance
Own Savings – be prepared to put your money on the line
Bank Finance = Straight Loans, Leasing (Motors certain Plant) bank Overdraft
Relative Costs of Finances
• Essential to have a well tested business plan.
Enterprise Ireland will hold an evening workshop – ‘EnterpriseSTART’ on Tuesday 15th March from 4pm – 9pm in the Enterprise Ireland Boardroom, Dundalk.
They are seeking entrepreneurs with a new business idea in either manufacturing or International Traded service sector, and who can demonstrate that their idea is innovative and with the potential to export.
Places are limited to 10 participants and the Workshop is free.
The workshop will concentrate on all aspects of setting up and running a business. It will cover Market Validation, Market Proposition, Unique Selling point etc. There will be a speaker from Enterprise Ireland to speak about what Enterprise Ireland can do for new start up businesses.
Enterprise Ireland has invested in 80 start-ups during 2010 and said that client companies grew export sales in 2010, recovering in the region of 70pc of the losses made in 2009.
In its End of Year Statement Enterprise Ireland reported an expansion in new export orders by client companies each and every month in 2010 and this trend is set to continue.
“We expect new export sales from Enterprise Ireland clients in the order of €1 billion in 2010 and more importantly they will spend €19 billion in the Irish economy,” Enterprise Ireland CEO Frank Ryan said.
“Irish companies have withstood the severe conditions they have faced, and have emerged leaner, stronger and with a greater appetite for international growth than ever before.”
Sustaining and growing jobs
He said the best efforts of Enterprise Ireland were focused on sustaining and growing jobs across its client companies.
In overall terms, the total number of people at work (full time and part time) in Enterprise Ireland client companies was 156,577, a net decrease of 3,726, or -2.3pc.
Full-time employment in Enterprise Ireland client companies stood at 137,241 in 2010. A total of 8,193 new jobs were created by client companies with a net decline of 5,355.
Recovery of food sector
“As key export markets have strengthened, and Irish businesses have responded to the opportunities presented, the conditions for job growth have improved. Of particular importance, was the recovery of the food sector which is Ireland’s biggest indigenous industry,” Ryan said.
The introduction by Enterprise Ireland of special lean programmes for the food sector in conjunction with the Department of Agriculture, Fisheries and Food has resulted in companies increasing productivity.
Key investments were also won against strong international competition – most notably Danone Baby Infant formula factory in Macroom.
R&D investment continues
Despite the recession Enterprise Ireland client companies continued to invest in R&D.
In 2010, 86 Enterprise Ireland companies were approved R&D funding in excess of €100K.
We are hosting a seminar for businesses to help drive their performance and improve efficiencies. We will be joined by Marianne Mc Eneaney from Cavan Monaghan Leader who will discuss the grant opportunities for start up and existing businesses. Niall Thornton from Key Financials will be on hand to give tips on dealing with your bank and preparing information for bank meetings.
Our own, Patrick Cunningham will give a presentation on the practical ways to improve efficiencies, maximise grants and increase your business performance.
Inter TradeIreland is inviting applications to a cross-border innovation fund. (Deadline 4th June 2010)
Five grants worth up to €175,000 are up for grabs during the latest round of their Innova programme, the only all-island R&D scheme aimed at helping companies develop new products, processes or services.
Funding is available for partnership projects involving businesses from Northern Ireland and the Republic, particularly smaller companies and first-time innovators.
As well as receiving a much-needed financial fillip, successful applicants also benefit from “pooling their expertise and resources” with another company, ensuring their innovative ideas are brought to market faster than if they were working alone.
Funding is available for both:
- Industrial Research- aimed at acquiring new knowledge and skills that may be useful in developing new – or significantly improving existing - products, processes or services.
- Experimental Development- taking the results of industrial research and shaping these into a plan for new or improved products, processes or services, including the creation of a prototype which could not be used commercially.
Urging partnerships to get their applications in as soon as possible, Margaret Hearty, director of programmes and business services at Inter TradeIreland, said:
“Developing and exploiting new ideas is critical to business success, particularly in the current climate. Companies need to innovate to survive and grow, but many lack the resources to make it happen.
“Our Innova programme offers an attractive support package for those companies serious about R&D and the unique opportunity to tap into the wealth of expertise that exists across the island.”
Inter TradeIreland has already invested €5 million through the lifespan of the programme.
Expressions of interest in the current funding round must be submitted by 4 June.
For further information about the Innova programme, visit the Inter TradeIreland website
Show your Business Week, is a business initiative organised by Bank of Ireland.Its aim is to bring local businesses together in Bank of Ireland branches across Ireland, to show and sell their products and services. All Bank of Ireland branches will host the Show your Business Week from the 24th-28th of May so if you are interested in showcasing your business, contact your local branch today!
Amatino Partners will be taking part on:
- 14th of May 10-4pm in Bank of Ireland Monaghan
- 28th of May 10-4pm in Bank of Ireland Cavan
Feedback received from the last Show your Business Week in December confirmed that many of the businesses achieved new sales leads, and it provided them with a platform for greater exposure to the local business community along with the prospect of reaching a new audience/marketplace.
Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD has invited applications to the second call of the Employment Subsidy Scheme. Applications must be made by 23 December 2009.
The programme was launched back in August as a means to encourage firms to keep hold of their staff despite the impact of the recession.
Around €65 million is being made available during the current bidding round, bringing the total support offered through the scheme to €135 million. Nearly 500 businesses received subsidies during round one, which helped to protect around 7,700 jobs.
The second phase is open to exporting and non-exporting companies that employ more than 10 people.
Employers with staff working 35 hours a week or more can receive subsidies of up to €9,100 per job; companies with staff working between 21 and 35 hours a week can bid for subsidies worth €6,370 per job.
Announcing the latest funding round, the Tánaiste said:
“The Employment Subsidy Scheme is designed to support the maintenance of vulnerable jobs and prevent people from being made redundant.
The Tánaiste and Minister for Enterprise, Trade and Employment, Ms. Mary Coughlan, T.D., together with the Minister for Social and Family Affairs, Ms. Mary Hanafin, T.D., today (Friday 13th November 2009) announced details to relax the eligibility criteria of the Work Placement Programme.
What is LEADER? Leader is a rural development grant established by the European Commission in 1991. The aim of the grant is to aid the development of sustainable rural communities.
How do I qualify for the Leader Grant?
The following are priority areas for action 2007-2013:
• Farm Diversification into non-agricultural activities
• Support for the creation and development of micro-enterprises
• Encouragement and development of tourism activities
• Provision of basic services for the economy and rural population
• Village renewal and development
• Conservation and upgrading of the rural heritage
• Relevant training, research, animation and information initiatives
• Co-operation projects at national and transnational level
If you are interested in finding out more about the funding, contact Patrick or Grainne on 047 84955.
Monaghan County Enterprise Board are organising an Enterprise Day in the Hilgrove Hotel in Monaghan tomorrow. The session opens at 3pm and runs until 9pm. For more information on the event,
click here.
Farm Assist is a weekly means-tested payment for low income farmers.
If you are a farmer and you have income from another source (such as other self-employment, insurable employment or capital), you may still qualify for a payment under the Farm Assist Scheme.
You will qualify for this payment if:
- you are a farmer,
- are aged between 18 and 66
- satisfy a means test
Who is considered a farmer?
For this scheme, you are considered a farmer if you farm land that you own or lease and that you use for the purpose of husbandry*.
If you farm land for the purpose of husbandry but you do not own or lease that land, you may still qualify as a farmer as long as the land is not part of a larger holding.
The land, which includes commonage (which is land that you and other landowners own together), must be within the State. You will not get Farm Assist if you lease or let all your land to another person.
*Husbandry means working the land with the object of taking produce from the land.
What is the means test?
A means test is a way of checking if you have enough means to support yourself and what amount of payment, if any, you may qualify for. To qualify for Farm Assist, you must show that your means are below a certain level.
Your means are:
- any income belonging to you or your spouse or partner,
- property belonging to you or your spouse or partner (except your home),
- other asset(s) that could provide you with an income.
When you complete and send in the application form Farm 1, a Social Welfare Inspector will call to you at your home.
The Government, through the Department of Enterprise, Trade and Employment, has initiated the Employment Subsidy Scheme, managed by Enterprise Ireland, to support the retention of jobs in viable exporting enterprises that might otherwise be made redundant as a result of the impact of the global and financial economic crises.
Contact Patrick Cunningham to find out how you can apply 047 84955 patrick@amatino.ie Closing date 4th of September 09.
According to this week's Sunday Business Post, Enterprise Ireland have only been allocated less than a quarter of the €250million promised for the scheme which is aimed at reducing redundancies. According to information being given out to companies wishing to apply, the balance will be paid out in 2010, once confirmation has been received from government that the funds are available.
The Irish Exporters Association are also calling for the scheme parameters to be extended to include companies that have less than 10 employees and to firms which supply exporters as the closure of these firms would significantly effect the viability of exporters themselves.
Are you Eligible? - You Must be:
- Manufacturing or internationally traded services
- Currently employ 10 or more full-time employees
- Currently exporting and can demonstrate that exports accounted for at least 30% of sales last year
- Will commit to retaining a number of full time employees to 30/11/2010
What is the Government Employment Subsidy Scheme (Temporary)?
It is an employment subsidy scheme for eligible manufacturing and internationally trading, exporting enterprises that can identify a number of full-time jobs at risk in their company as a result of the current economic downturn.
Employment subsidies of up to €200 per week per full time (working an average 35 hour week) person for the first 26 weeks and then on a reducing scale thereafter to a maximum of €9,100 over the 15 month period to 21/11/2010 may be awarded to successful applicants. The maximum support an enterprise can receive is €500,000.
For many businesses, especially that in the retail, services, and hospitality sectors, premises costs and the level of rent being paid can be a critical factor in the profitability or even survival of the business.
Landlords are being inundated with requests for rental reviews and while most are taking a pragmatic approach even the most sympathetic landlord will look at a number of key factors in determining their position towards a renegotiated level of rent:
1. Does the business have a future?
If you present your landlord with the impression that your business is under grave threat with no reasonable prospect of survival they may well make the decision that they should be looking for a new tenant. You must show that you have a realistic business plan in place which will guide your business through its current difficulties.
2. Is the business being run as cost-effectively as possible?
No landlord can be expected to subsidise cost inefficiencies within your business. You must be able to demonstrate that you have fully reviewed your cost base and implemented all available savings.
3. Has the business addressed its marketing needs?
While cost savings are effective to a point, as a business owner you must also be satisfied that you are doing enough in terms of your marketing effort.