LEO business grants - Grants Available to Irish Businesses through the Local Enterprise Office

If you're a small business owner in Ireland, navigating the world of grants and financial support can significantly boost your start-up or growth journey. The Local Enterprise Office (LEO) is a valuable resource, offering various financial supports tailored to the needs of businesses in manufacturing and services sectors. Let's explore the grants available and how they can benefit your venture.

Who is Eligible for LEO Grants?

LEO grants cater to sole traders, partnerships, and limited companies. However, it's essential to note that retail enterprises, personal services, professional services, and businesses in construction and local services are not eligible for grant aid.

Priming Grant: Starting Strong

For micro enterprises with up to 10 employees, the Priming Grant is a game-changer. Designed for businesses trading in both Ireland and internationally, it's particularly beneficial for those in their first 18 months of operation. The grant, capped at 50% of the investment (up to €80,000, extendable to €150,000 in certain cases), can be used for new equipment or direct business costs. It's a boost for companies with the potential to develop into Internationally Trading Services (ITS) and manufacturing.

Key Criteria Considered:

• Capital items (workspace renovation, equipment purchase, and utilities costs)

• Salary costs (up to €15,000 per full-time job created)

• Consultancy, Innovation, and Marketing costs.
  

Business Expansion Grant: Sustaining Growth

Geared towards businesses in their growth phase after the initial 18 months, the Business Expansion Grant is the next step. Businesses that received a Priming Grant need to wait for 12 months before applying for this one. The grant, capped at 50% of the investment (or up to €150,000 in exceptional circumstances), supports capital items, salary costs, and consultancy, innovation, and marketing expenses.

Feasibility/Innovation Grant: Exploring Potential

Small businesses looking to research market demand, sustainability, and innovation can benefit from the Feasibility/Innovation Grant. With a maximum grant of 50-60% of the investment (up to €15,000), this grant covers a range of costs, including market research, consultancy fees, technical development, and even your labour costs.

Key Considerations:

• Market Research Costs

• Consultancy Costs (design, architect, and legal fees)

• Technical Development, Prototype, and Innovation

• Salary or labour research costs

• Miscellaneous Costs (telephone, mileage, subsistence, etc.).
  

Agile Innovation Fund: Research, Development, and Innovation (RD&I)

For manufacturing or internationally traded services companies venturing into essential research and development projects, the Agile Innovation Fund is a vital resource. The fund is geared towards those new to RD&I, operating in short product life cycles, and undertaking small projects. Eligible costs include existing and new staff costs, overheads, materials, consultancy, travel, subsistence, and even certification and clinical trials.

Navigating the grants available through the Local Enterprise Office opens up avenues for small businesses to thrive, innovate, and contribute to economic growth. If you're eligible, these grants could be the catalyst your business needs to reach new heights. Connect with us here at Grow to help ensure your business is getting the grants it needs and deserves.