Leap Like A Gazelle - Financial Supports For Start-Ups In Ireland

Author:Ms Elena Vassileva and Mark Murran
Profession:Ronan Daly Jermyn
 
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Ireland is regularly named as being one of Europe's most entrepreneurial countries1. Situated in the heart of the business world, Ireland has developed a vibrant start-up community as well as world-class accelerators in software, fintech, medtech and the Internet of things.

Irish start-ups, similar to their European and transatlantic counterparts, often face obstacles relating to scaling and development. One of the biggest difficulties start-ups and early stage companies face is access to finance.

With this in mind, we look at some of the financial supports and tax reliefs currently available for start-ups and early stage businesses in Ireland to accelerate growth and potentially stimulate the next generation of gazelles.

Financial Supports Enterprise Ireland offers a number of financial supports based on the development stage and the funding needs of the business:

High Potential Start-Up Funding (HPSU); Established SME Funding (10 to 250 employees, having an annual turnover of less than €50m or an annual balance sheet of less than €43m); Funding to Commercialise Research (for researchers in Higher Education Institutes) Local Enterprise Offices offer numerous grants:

Feasibility Study Grants (to assist the promoter to assess market demand); Priming Grants (available to businesses employing up to 10 employees within the first 18 months of start-up); Business Expansion Grants (for businesses trading over 18 months); Trading Online Voucher Scheme (fewer than 10 employees and an annual turnover of less than €2m). Microfinance Ireland provides small unsecured loans:

Microfinance (fewer than 10 employees and an annual turnover of less than €2m) Tax relief

Further supports are offered to early stage enterprises through a variety of tax reliefs and tax planning:

Start-up Refund for...

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