Supports for Setting up a Business in Leitrim

Leitrim - ONE CALL to Success provides you with one number to call to find out about the different support services available to you in setting up your business in Leitrim - 071 965 0496 or you can email us on o#n#e#c#a#l#l#|#l#e#i#t#r#i#m#c#o#c#o#.#i#e The aim is to save you time by helping you to locate the most appropriate support for your type of business; or for the stage your business is at right now whether that be just an idea, starting up or growing. This is unique to any county in Ireland for business supports.

Leitrim is an English speaking destination for business in the North West of Ireland giving access to the vast European Union markets. In addition, Leitrim, due to its location next to Northern Ireland gives businesses setting up in the county access to additional supports through cross border programmes which is not available in most other parts of the Republic of Ireland. Below is a sample of the type of supports available to business in Leitrim, Ireland. Feel free to ring or email us on the number above if you want further information or details on other programmes. Some of the business related programmes currently operating on a cross border basis include:

Leitrim Local Enterprise Office (LEO) formerly known as Leitrim County Enterprise Board

Local Enterprise Offices (LEOs) can help to establish and develop new and existing enterprises provided that the enterprise is capable of becoming commercially viable. There are also other criteria to be met and these are listed below.

The enterprise must;

  • not employ more than 10 people
  • be established, registered and operate within the area of the Local Enterprise Office
  • operate in the commercial field
  • show there is a market for the product or service
  • have the potential for job creation without affecting existing local businesses

Within the above criteria, there are certain priorities and restrictions. For example, priority will be given to: 

  • Only enterprises in the manufacturing or internationally traded services sector which, over time, can develop into strong export entities and graduate to Enterprise Ireland
  • Unique tourism enterprises that target generating revenue from overseas visitors; these tourism services should not displace business from other existing players in the market or give rise to deadweight (where projects would have proceeded anyway). Such tourism services may be offered salary supports. 
  • With regard to restrictions, retail enterprises, personal services, professional services or construction and local building services are not eligible for grant aid.

 Leitrim LEO offers different supports in the form of Financial and Training as well as information on Workspace.

Financial Supports include:

Feasibility Grant

What is it? Designed to assist the promoter with researching market demand for a product or service and to examine the sustainability of that product or service. The grant helps with innovation costs including specific consultancy requirements, hiring expertise from third-level colleges, private specialists, design, patent costs and prototype development.

What expenditure can be considered?

  • Market Research Costs –   to develop the business proposition
  • Consultancy Costs – to include design fees, architect fees and legal fees
  • Technical Development/Prototype/Innovation – to include prototype development, innovative design, research costs and third-level college consultancy
  • Salary/Own Labour Research – costs include own labour involved in carrying out the Feasibility Study. The maximum amount chargeable is €400 a week subject to the overall maximum not exceeding 20% of the overall grant drawdown.
  • Miscellaneous Costs - include telephone costs, mileage costs at €0.26 per kilometre, subsistence and overnight costs, air travel, and so on. Costs in this category relate specifically to Feasibility Grants. The maximum amount for these costs should not exceed 20% of the overall grant level.

Priming Grant

What is it? A Priming Grant may be paid to buy new equipment, help with direct business costs such as salary, rental costs, utilities, marketing, consultancy costs, and so on. Grant assistance is not available for the purchase of a building, land or mobile assets.

What expenditure can be considered?

  • Capital Items – including fit out of workspace, office equipment, machinery, fixed technology costs, and so on. (Note that the cost of buying or construction of a building and the cost of land and mobile assets including laptops, tablets and smart phones are excluded from grant aid).
  • Salary Costs – for the first year of employment. This money is paid in two instalments. The first instalment is at the start of employment; and the second after six months of employment. The level of grant support will reflect the salary scale proposed for the job being generated. Jobs attracting salaries of more than €40,000 will be eligible for the maximum €15,000 grant support. Lower-paid positions will receive a lower grant. Please note that approved grants are to be used for their intended purposes. If salaries are being supported by the LEO, the detailed job description and contracts for the role need to be forwarded to the LEO before the funds can be drawn down.
  • Consultancy, Innovation, Marketing Costs – these may include packaging, brochures, business cards, trade fairs, website development, consultancy fees and other marketing initiatives.
  • General Overhead Costs - these include for example;
    • Utility Costs – these include installation costs for fixed line telephone, broadband and three-phase power (electrical supply with a voltage suitable for businesses).
    • Rental or Accommodation Costs – for the first year of the enterprise. (Note that if rental space is already subsidised by an investment of public funds, grant support will only make up the difference between the subsidy and the market rate.) Rental costs may be paid up front subject to supplying the LEO with a signed lease or rental agreement.

*Please note that there is an element of refundable aid in Priming Grants (grant money that you have to pay back). The LEO’s Evaluation and Approvals Committee will determine this amount.

Micro Finance Loans

Under a partnership agreement between Microfinance Ireland and the Local Enterprise Offices, Business Loans are now available through the Local Enterprise Offices.  
  • Unsecured loans from €2,000 up to €25,000
  • Term from 3 to 5 years
  • Reduced interest rate 6.8% for LEO clients
  • Flexibility on repayment terms

The loans are provided and underwritten by Microfinance Ireland and application may be made through the LEO Office and will in the first instance be assessed locally. Microfinance Ireland was established by the Government to provide additional lending to start up and existing micro enterprises. The final decision for all loan applications is made by Microfinance Ireland. Loans are repayable to Microfinance Ireland according to the terms and conditions set out by Microfinance Ireland.

Sole traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Unlike some of the other financial supports available from the LEO, all business sectors are eligible to apply. Loans may be use to fund the start-up of a business, the purchase of stock, equipment, machinery and business vehicles are also available to existing enterprises.      

By applying through your Local Enterprise Office you will get;

  • 1% reduction on normal interest rate
  •  Assistance and feedback on application
  •  Business advice and support

Business Expansion Supports

  • If a business received a Priming Grant (start-up grant), it cannot apply for a Business Expansion Grant until 12 months after the date of approval of the priming Grant. An exception to this might be made in cases of exceptional merit where less than the maximum Priming Grant was drawn down and provided the rules of ‘De Minimis aid’ are respected. De Minimis aid is small amounts of State aid granted to enterprises.

                     

    What expenditure can be considered?

            
  • Salary Costs for the first year of employment. This money is paid in two instalments. The first instalment is at the start of employment; and the second after six months of employment. The level of grant support will reflect the salary scale proposed for the job being generated. Jobs attracting salaries of more than €40,000 will be eligible for the maximum €15,000 grant support. Lower-paid positions will receive a lower grant. Please note that approved grants are to be used for their intended purposes. If salaries are being supported by the LEO, the detailed job description and contracts for the role need to be forwarded to the LEO before the funds can be drawn down.
  • Capital Items including fit out of workspace, office equipment, machinery, fixed technology costs, and so on. (Note that the cost of buying or construction of a building and the cost of land and mobile assets including laptops, tablets and smart phones are excluded from grant aid.) 
  • Consultancy, Innovation, Marketing Costs - these may include packaging, brochures, business cards, trade fairs, website development, consultancy fees and other marketing initiatives.        
  • General Overhead Costs - these include for example;   

    • Utility Costs – these include installation costs for fixed line telephone, broadband and three-phase power (electrical supply with a voltage suitable for businesses)
    • Rental or Accommodation Costs – for the first year of the enterprise. (Note that if rental space is already subsidised by an investment of public funds, grant support will only make up the difference between the subsidy and the market rate.) Rental costs may be paid up front subject to supplying the LEO with a signed lease or rental agreement.

* Please note there is an element of refundable aid in Business Expansion Grants (grant money that you have to pay back). The LEO’s Evaluation and Approvals Committee will determine this amount. Grant assistance is not payable to buy a building, land or mobile assets.

               Rural Development Programme (Leader) 2014 - 2020
    This new LEADER Programme is expected to open for Expressions of Interest in late Autumn. Responsibility for the oversight and delivery of this Programme is with the newly formed Leitrim Local Community Development Committee (LCDC). The LCDC was established in 2014 as part of the reform of local government in Ireland. It is made up of members of the Local Authority, Community Interests, Local Authority staff, representatives of public bodies (HSE, Teagasc and Dept. of Social Protection) and local development bodies. The Implementing partner for the Programme is Leitrim Development Company and the Financial Partner for the Programme is Leitrim County Council. All enquiries in relation to Expressions of Interest can be made to Leitrim Development Company.

 The Programme funding will be allocated based on the LCDC's Local Development Strategy. The priorities identified in the Leitrim LDS are:

  • Thriving, Authentic Tourism sector
  • Dynamic and Diversified Rural Economy
  • Vibrant Towns & Villages as Hubs of Activity and Services
  • Enhanced ICT Awareness & Knowledge
  • Conservation & Sustainable Use of Local Biodiversity & Water Resource
  • Harnessing Our Natural Resources

Further information will be included here once the programme opens.

Solas (formerly FÁS) - provide assistance for businesses through the following:

  1. Training and employment programmes at national, sectoral, regional or company level in the form of funding;
  2. The Work Placement Programme allows a business to take on a person for work experience for a maximum of 9 months.

Leitrim County Council is the contact point for a number of services for new businesses e.g.

  • Planning permission,
  • Change of use for buildings;
  • Road opening license;
  • Waste management;
  • Access to water schemes for more rurally based business
  • the LEO office
  • Arts office supporting Creative business.

In addition Leitrim County Council can help by:

  • Providing information on broadband providers in your area;
  • Listing your business on the Leitrim Business Directory;
  • Providing information on premises available for purchase/rent;
  • Providing access to business information and newspapers/business magazines throughout its network of libraries;
  • Providing free internet access in its library network;
  • Bringing third level education access through the Leitrim Third Level Initiative.

Enterprise Ireland- Enterprise Ireland is the Irish Government agency responsible for the development and promotion of the indigenous business sector. Enterprise Ireland is particularly keen to speak to individuals who may be returning to Ireland and thinking of starting their own internationally focused business.

They are also very interested in working with individuals involved in third-level research, particularly those who have an interest in commercialising their research, as well as serial or repeat entrepreneurs who might consider setting up a business in the North West Region. Enterprise Ireland's High Potential Start-Up (HPSU) team provides hands-on support and advice to entrepreneurs and early stage companies that are considered by Enterprise Ireland to have an innovative product, service or technology, and have the potential to achieve exports sales and create employment. If you are thinking of starting a new business with export potential or are currently raising investment for your start-up venture, then you may qualify for support and investment. This section sets out the criteria for becoming an Enterprise Ireland HPSU client and the supports available to you. Some Enterprise Ireland Clients in Leitrim would include Cora Systems; Archway products and Masonite.

IDA Ireland - works to bring investment into Ireland from overseas. the IDA has been successful in bring a range of International companies to Ireland e.g. Google, Facebook, Intel and in the case of Leitrim, the companies it works with include Bank of America, Elastometall, MCI and others.

RoLe Skillnet - RoLe Skillnet comprises a network of companies nationwide who have come together with the support of Skillnets Ltd to address common training needs. The ‘Skillnet' system is unique in that it brings businesses together for training purposes, to the overall benefit of the wider economy. Many small businesses have reduced in size leading to management and staff multi-tasking which has created a demand to rapidly acquire new skills.

The RoLe Skillnet Network is offering enterprises the opportunity to apply for up to 20% funding for their training requirements for the year.

Only private sector or commercial semi-state enterprises can apply for this funding.