Business Grant Aid
Grant aid is available to help finance new and existing businesses in the Cavan Monaghan region. The grants available are substantial and are focused on promoting new business development and growing existing business enterprises. Grant aid assistance is also available to assist with feasibility studies. If you have a feasible project on your hands, at that point grants are available towards capital expenditure , marketing and training programmes.
The main source of grant aid for new and developing business is as follows:
County Enterprise Boards
CEBs provide direct grant-support to new and existing enterprises and promote entrepreneurship, capacity building and women-in-business at local level, to micro enterprises in the commercial sphere. The CEBs are uniquely positioned to understand local needs and know the background and track record of those applying for support and assistance.
The CEBs support both new and established businesses include:
Priming Grants - for sole traders, partnerships, community or limited companies that fulfil the following criteria
• Located within the CEB’s geographic area;
• A business which on growth may or may not fit the Enterprise Ireland portfolio;
• A business employing up to 10 employees
• A Manufacturing or Internationally traded services business
• A Domestically traded Service business with the potential to trade internationally.
• A domestically traded services being established by a female returning to the workforce or unemployed persons where the potential for dead weight and displacement does not exist”.
Eligible clients may be awarded a Priming Grant within the first eighteen months of setting up the business. The maximum Priming Grant payable shall be 50% of the investment or €150,000 whichever is the lesser. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser. Subject to the 50% limit, a maximum grant of €15,000 per full time job created shall apply in respect of any employment support granted.
The maximum Feasibility / Innovation Grant payable for the S&E Region shall be 50% of the investment or €20,000 whichever is the lesser. The maximum Feasibility / Innovation Grant payable for the BMW Region shall be 60% of the investment or €20,000 whichever is the lesser.
Leader Rural Development programmers
Minister for Community, Rural and Gaeltacht Affairs, Éamon Ó Cuív announced the LEADER funding allocations under Axes 3 and 4 of the Rural Development Programme 2007-2013. Under this allocation the Cavan Monaghan Region is to receive €12,035,118 to support and facilitate the continued development of rural communities in the region.
Activities for which funding may be available under the New Programme include;
- Diversification into Non-Agricultural Activities
- Support for Business Creation and Development
- Encouragement of Tourism Activities,
- Basic Services for the Economy and Rural Population,
- Village Renewal and Development
- Conservation and Upgrading of Rural Heritage
- Training and Information measures
The projects must be based within the geographic area of Cavan – Monaghan. All projects outside the two principal county towns are eligible.
Grant aid up to €150,000 or 50% of eligible expenditure is available to fund eligible projects.
The enterprise must currently employ less than 10 employees and net annual turnover is less than €2m.