| Q1 |
The maximum support is given as €450,000. Does that mean I can have €450,000 for training and €450,000 for technology acquisition? |
| A1 |
The €450,000 figure is the maximum amount Enterprise Ireland will approve for any company business plan submission. The entire €450,000 may be allocated to training or to management development, but the total support for whatever the company is investing in cannot exceed €450,000. See Growth Fund for further details |
| Q2 |
What support is available to companies in preparing their business plan details before submitting a Growth Fund application? |
| A2 |
Companies may apply to their Development Adviser for consultancy support (Strategic Consultancy) for activities which assist a company in the planning process. 50% of the actual consultancy costs may be met. The maximum charge rate for a consultant which can be supported at 50% is €900 per diem (all inclusive). Strategic Consultancy |
| Q3 |
What should a company do if the Development Adviser is not known? |
| A3 |
All Enterprise Ireland client companies have a Development Adviser appointed. If there is uncertainty about whom the relevant Development Adviser is, or if the company is believed to be eligible to become an Enterprise Ireland client but has not yet become a client click here Development Adviser |
| Q4 |
What are the requirements to qualify as an internationally traded services company? |
| A4 |
Internationally Traded Services companies should be exporters or potential exporters of 80% or more of their output. Companies with modest, incidental or channel sales overseas would not qualify. |
| Q5 |
Are client companies of County Enterprise Boards eligible under the Fund? |
| A5 |
Generally no, but if a company has ambitious expansion plans they may become eligible for transfer to Enterprise Ireland. See Clients |
| Q6 |
Are client companies of Shannon Development and Udaras na Gaeltachta eligible for support from the Fund? |
| A6 |
No, the fund is specific to Enterprise Ireland client companies. However, many companies which were formerly client companies of Shannon Development are currently Enterprise Ireland client companies (exceptions include overseas headquartered companies and/or companies established on the Shannon Free Zone).
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| Q7 |
Can training support grant-aid the necessary training costs for staff who will be using new equipment? |
| A7 |
Yes, companies will find it advantageous to request suppliers to invoice separately for supply of equipment and familiarisation training for relevant staff (where such training is required). |
| Q8 |
My company is not part of any group, employs less than 250 people and has an annual balance sheet of less than €43 million, but last year total turnover exceeded €50 millions. How do I apply the SME test in Official Journal of the European Commission (OJ) L124/36? |
| A8 |
The single most important test is the number of employees. If a company has less than 250 employees it may be considered an SME. However, if both the annual balance sheet exceeds €43 million and the annual turnover exceeds €50 million, it cannot be treated as an SME. If only one of the two financial tests exceeds the limit, the company may still qualify as an SME. In the example given, the company is considered to be a medium enterprise. See SME |
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| Q9 |
My company is not part of any group, employs less than 50 people but has an annual balance sheet of more than €10 million. Last year total turnover was less than €10 millions. How do I apply the SME test in OJ L124/36? |
| A9 |
The single most important test is the number of employees. If a company has less than 50 employees it may be considered a small enterprise. However, if both the annual balance sheet and annual turnover exceeds €10 million, it cannot be treated as a small enterprise. If only one of the two financial tests exceeds the limit, the company may still qualify as a small enterprise. In the example given, the company is considered to be a small enterprise. See SME |
| Q10 |
Does Northern Ireland count as an export market? |
| A10 |
There is no yes/no answer on eligible markets. A judgement has to be made, based on the size of the market relative to current outputs by the company. If there is a sensible prospect of significantly growing sales by going into any particular market, then the case could be made for support. If the overall market is small, it would take a fairly unusual situation for exports to there to represent much of a growth opportunity, unless it is stage one of a wider strategy.
If the company's business plan can show sensible prospects of growth by going into a market, or if that market is seen as a reasonable staging post leading to exports on a much wider scale it could be supportable.
The Committee will need to be satisfied of the merits of the investment. |
| Q11 |
Is leased equipment eligible? |
| A11 |
This is covered in the Reference Document under 9.1.1 Capital equipment. Eligible expenditure includes 'Financial agreements/contracts for equipment where there is an obligation to purchase the equipment at the end of the contract period.'
Leased equipment (i.e. equipment obtained through a financial contract) is only eligible where the company has an obligation to purchase the equipment at the end of the leasing contract. If they won't eventually own the equipment, it is not eligible.
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| Q12 |
If a deposit has been paid on a piece of equipment, is the whole cost of the equipment ineligible or just the deposit? |
| A12 |
The intention of the Growth Fund is to encourage companies to do more to grow their companies than they would do without EI support. If a deposit has been paid on some equipment before application has been made for support, it implies that the decision to purchase is not conditional on there being EI support. None of the costs associated with buying such equipment will be eligible for grant support under the Growth Fund. |
| Q13 |
How can I tell if refurbished equipment will be considered eligible for grant support? |
| A13 |
Before including refurbished equipment in the Growth Fund submission, the company should discuss the particular item identified with their Development Adviser and/or EI Technologist. Based on an inspection of the actual refurbished equipment or on the proposed specification for the equipment after refurbishment, advice can be given as to whether or not it will be recommended for support. Final support may depend on a grant inspector being satisfied that the equipment has been actually refurbished up to the agreed specification. |
| Q14 |
I have identified a German national as a key territory manager to develop the North European market. Can I recruit her as a Key Manager under the Growth Fund? |
| A14 |
A Key Manager must go on the payroll of the grant aided company and pay tax in the European Economic Area (EEA) to qualify for support under the Growth Fund. This is an EU regulation.
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| Q15 |
The company has been approved for Business Expansion Scheme (BES) support. What impact does this have on Growth Fund grants? |
| A15 |
EU cumulation rules require that Enterprise Ireland must reduce grant aid rates by 50% in the "non-assisted" areas and by 20% in the rest of Ireland for any BES-capitalised company during the first three years of the company's total BES/SCS capitalisation, effective from the date of its first BES/SCS share-issue. |
| Q16 |
What exactly are the rules relating to de Minimis grant support? |
| A16 |
de Minimis refers to an EU ruling which allows any company to receive up to €200,000 in State support over a three year period without this being treated as an illegal State Aid. Within the Growth Fund, this is only used for Key Managers in regions other than the BMW. Any company which has received de Minimis aid from a source other than Enterprise Ireland should advise us of this support to ensure that the funding limits are not breached. |