Covid 19 Business Financial Planning Grant


In light of the COVID-19 crisis there is an immediate need for companies to:

  • understand their immediate liquidity issues – determine how to minimise costs and maximise sources of liquidity;
  • create a financial plan to secure the external finance they require – funding from SBCI/Bank, EI Investment and/or capital from other finance providers will be required to fund companies through the coming months;
  • have a framework to manage the finances of the business – a coherent and well-structured plan will facilitate the monitoring and management of the financial position of the company.

The COVID-19 Business Financial Planning grant will provide a strategic intervention for companies to work with third party consultants to prepare a detailed financial and business plan with forecasts and assumptions.

The offer seeks to encourage companies to be proactive in developing a detailed financial plan that identifies funding needs and potential sources of funding.

This new offer will provide grant support to companies of up to €5,000 (100% of expenditure) for an engagement with an approved external consultant.

Full details of the grant can be found in the associated Reference Document.


Am I eligible?

The grant will be targeted at;

In addition, the grant will also be open to;

Companies will need a positive de Minimis balance to cover the approved grant amount (to be self-certified).


Ineligible Companies

  • Companies active in the fisheries sector or in the primary production of agricultural products.
  • Companies operating in the coal and steel sector.


What costs are eligible and what is the maximum funding available?

This new offer will provide grant support to companies of up to €5,000 (100% of expenditure) for an engagement with an approved external consultant.

Eligible ExpendituresMaximum Limits and Notes
Consultancy fees• The grant will be used to cover the daily fees of external approved consultants engaging with companies on the development of a financial and business plan.
• Consultancy daily rate of up to a maximum €900/day.
• Consultancy daily rate to be inclusive of travel & subsistence and all out of pocket expenses.
• Where a consultancy has more than one consultant engaged on the project, the aggregate number of days worked by all consultants on the project is counted.


Ineligible Costs

  • Any expenditure incurred prior to the date of receipt of application in Enterprise Ireland;
  • Consultant expenses;
  • Sales-related expenses;
  • Trade Fair participation costs;
  • Any Internal costs of the company (e.g. Salaries & Overheads).

Receipt of other grants from Enterprise Ireland may impact on your eligibility for support under this initiative.


How do I Apply?

Contact your assigned Enterprise Ireland Adviser to discuss your application.

Non-EI Clients should send an email to to check their eligibility.


How will the grant be used?

The grant will enable companies to understand their immediate liquidity needs as a result of the COVID-19 crisis, create a financial plan to secure the external finance required for business continuity and have a framework to manage the finances of the business.

Companies will work with approved third-party consultants to develop a financial plan. The plan will seek to;

  • establish the company’s current position;
  • examine the negative COVID-19 impacts on the business;
  • establish where the company wants to be in 3-years' time;
  • select and prioritise initiatives that will mitigate risks and identify appropriate actions and the resources required (people, money, time);
  • The plan will include 3-years' projections (monthly P&L, B/S and cash-flow);
  • The plan will also include a series of actions to be undertaken by the company to mitigate the effects of the current crisis on the company;
  • The plan should enable management to identify and access the finance they require. All sources of liquidity available to companies should be explored (including DEASP, Revenue, Banks and other sources).


Output Overview

The output of this engagement will be a complete set of financial forecasts for 3 years. The outputs will include an Output Report (.docx), a set of financial models and a completed 5-year Financial Data Sheet (.xlsx).

The output report details the specific outputs required from both the company and the consultant and has a checklist of the outputs required.


Approved Financial Consultants Directory

The financial plans produced as part of this engagement will be used to source external finance; it is vital that the quality of the plans produced is high to ensure the companies have the best chance of securing the finance they require. 

In addition, for those Enterprise Ireland companies availing of this grant, the output will form the basis of any application they make for other Enterprise Ireland supports.

Enterprise Ireland has compiled a directory of consultants to work with companies through this grant and it is expected that companies will use these consultants.

Applications that do not include the name of an approved consultant will not be approved.


Inclusion on the Approved Consultants Directory

Companies may use a consultant that is not currently on the approved consultant list once the consultant has been approved.

To be included on the approved consultant list a detailed, EI-formatted Bio will be required that demonstrates how the consultant’s expertise and experience meet the minimum criteria set out below.

The Growth Capital team in Enterprise Ireland will approve all additions to the approved consultant directory.

The processing of applications seeking nominations from the approved directories will be given priority – applications that seek to use their own consultant will take longer to process.


Criteria for inclusion on Approved Consultant Directory

  • Accountant with a recognised accounting professional qualification (with >10 years post qualifying experience) and a current member of a professional accountancy body;
  • Holds professional indemnity insurance;
  • Has worked in an SME as a CFO/senior finance role or worked with SMEs in this capacity in the last 10 years;
  • Has excellent, user friendly, financial modelling skills that can be customised to company requirements and enable scenario planning;
  • Can provide evidence of at least 4 similar assignments undertaken with Irish SMEs involved in manufacturing or internationally traded services in the last 3 years;
  • Has relevant sectoral knowledge and experience;
  • Has sufficient full-time resources and the capacity to deliver promptly and professionally on the work programme.


Key contact/more information

Contact your Enterprise Ireland Adviser or email