SME growth grant scheme
€8 million SME growth investment grant scheme
This scheme seeks to assist SMEs to address this gap by providing support in the form of non-repayable Grants to part-finance investments towards the implementation of their growth strategies related to the extension of the capacity of an existing establishment, or the setting up of a new establishment.
Applications are currently closed but a fresh call is expected in the coming months.
Small and Micro Enterprises
Up to 31 December 2017 : 35%
From 1 January 2018 : 30%
Up to 31 December 2017 : 25%
From 1 January 2018 : 20%
For many SMEs, achieving growth is an important business objective. Market demands require rapid response from enterprises to sustain their competitiveness and grow. As they pursue growth in sales and earnings, SMEs are putting in place a variety of measures to ensure they are well positioned to exploit growth opportunities. Such challenges push SMEs to take up initiatives to increase their market share, enter new markets and internationalise to overcome regional challenges.
SMEs have limited financial resources and encounter difficulties in accessing finance to generate the required capital to take-up investment projects. The lack of readily available financing options pose greater difficulty to SMEs to react to market demands requiring them to undertake rapid and timely intervention through investment on expansion projects to enable them to secure the adequate capacity levels to re-align and secure their supply levels.
Initial Investment in tangible and intangible assets related to:
- the extension of the capacity of an existing establishment,
- the setting up of a new establishment.
The investment should result in the growth of the Undertaking, and an increase in the number of employees (full-time equivalent) employed by the Undertaking.
Maximum grant €500,000
- Lease of private operational premises
- Construction/up-grades on private operational premises
- Purchasing of new equipment, machinery and plant
- Patents and licenses
Download more information on the SME Growth Grant Scheme.
Grant Thornton has a long and success track record when it comes to assisting clients tap such EU funds and has continued to invest in more human resources to provide the client with a whole range of services from scoping of the project, to grant application and project management.
Contact us today for a non-obligatory introductory meeting with a member of our EU Advisory Services team.
Send us an email or call on +356 21 320134.