Priming Grants
What is a Priming grant?
Looking to start a new business in Ireland? If so, you may be eligible for a Priming Grant, a government-funded initiative aimed at supporting small businesses in their early stages of growth. Specifically, Priming Grants are start-up business grants available to micro-enterprises within the first 18 months of their establishment. The funds may be granted to sole traders, partnerships, or limited companies that meet the eligibility criteria. The grant amount is typically 50% of the investment or €150,000, whichever is the lesser.
How Do I Know If My Business is Eligible for a Priming Grant?
The first step is to reach out to your Local Enterprise Office (LEO). They will assess your eligibility and determine the level of funding available for your business. The assessment will take into consideration several factors, such as the potential for employment and sales growth, the merits of your proposal, your need for financial support, and any previous funding received. The decision will be made on a case-by-case basis.
To be eligible for a Priming Grant, your business must fulfil the following conditions:
- Operating within the geographic area of the LEO
- Possessing growth potential that fits the Enterprise Ireland portfolio
- Employing a maximum of 10 employees (with some exceptions – consult a Local Enterprise Office advisor for more details)
- Being a manufacturing or a services business engaged in international trade
- Being a domestically traded service business with the possibility of international trade
- Requiring funding and taking into account deadweight and displacement
Note: A business that has received a Priming Grant will not be eligible to apply for a Business Expansion grant until 12 months after either the approval or drawdown date of the Priming Grant – unless the case demonstrates exceptional merit and the received amount was less than the maximum grant amount allowed under ‘De Minimis state aid‘ rules.
What Can a Priming Grant Be Used for?
The grant can be used for various purposes, including:
- Capital items such as office equipment, machinery, and software
- Salary costs for the first year of employment (split into two payments)
- Rental/accommodation costs for the first year of the project
- Utility costs like telephone and broadband installations
- Marketing materials such as brochures, business cards, and website design
- Consultancy fees for design, legal, and accounting services
- Specialised training programs for management and key personnel
What are the Priming Grant Reimbursement Limits?
- The Priming Grant reimbursed amount is limited to either 50% of the investment or €150,000, whichever is the smaller sum.
- For projects that showcase significant potential for graduation to Enterprise Ireland or international export, grants ranging from €80,000 to €150,000 may be available.
- For other cases, the maximum grant reimbursement would be capped at 50% of the investment or €80,000, whichever is the lower amount.
- Employment support grants are eligible for a maximum reimbursement of €15,000 per full-time job created, subject to the overall 50% reimbursement limit.
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- 1. What is a Priming grant?
- 2. How Do I Know If My Business is Eligible for a Priming Grant?
- 3. To be eligible for a Priming Grant, your business must fulfil the following conditions:
- 4. What Can a Priming Grant Be Used for?
- 5. What are the Priming Grant Reimbursement Limits?
- 6. We Make The Process Effortless For You
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