Tailored Company Expansion Packages
Overview of Enterprise Ireland Tailored Expansion Packages
If you are undertaking or planning to undertake an ambitious expansion of your company that will create employment and grow your sales in international markets, Enterprise Ireland can discuss a financial support package for your company. Funding will typically be by way of grant and/or redeemable preference shares.
If your Developer Adviser (DA) instructs you that this is an ERDF project, click on ERDF Information for Clients.
All clients have the right to appeal the decision by the approving authority within 2 months of the decision by contacting their DA to discuss committee/authority decisions, or by appealing in writing to the Secretary to the Board.
Am I eligible?
Tailored Company Expansion Packages are considered on a case-by-case basis. SME and large companies are eligible to apply for this funding if your company is an existing manufacturing or eligible internationally traded services company employing ten or more people.
Typically companies are existing clients of Enterprise Ireland. However, if you are not currently a client, please contact your local Enterprise Ireland regional office to discuss your company expansion plans.
What expenditures can be supported and what is the maximum funding?
Enterprise Ireland Tailored Expansion Packages can support new or incremental investment in:
- Capital assets and job creation
- R&D
- Training
- Management Development
- Consultancy
The amount of Enterprise Ireland funding will be determined by the;
- need for financial support for the project,
- anticipated growth targets,
- potential employment, and
- regional location of the company in Ireland.
Typically
- Funding for job creation and capital is in the form of redeemable preference shares*.
- Funding for recruitment of a key managers and training/management development is in the form of grant and funding for R&D is in the form of grant/preference shares*.
* Enterprise Ireland’s Preference shares, unlike ordinary shares, have no ownership or voting rights. Enterprise Ireland’s Preference Shares typically take the following form, Enterprise Ireland is entitled to receive dividends (based on an annual % coupon/interest rate) and seek repayment (redemption) of its investments at a specified time (Enterprise Ireland generally seeks redemption on the fifth anniversary of investment). The dividend and redemption payments can only be paid out of distributable funds.
How do I apply?
- Your Enterprise Ireland Adviser will guide/advise you on how to put together a development plan and application to Enterprise Ireland for funding. In the case of an R&D application, assistance may be given for the preparation of the R&D plan.
- Following receipt of your application, an Enterprise Ireland appointed assessor will meet your team to evaluate your proposal and proposed expenditure.
- Enterprise Ireland will work with you to carry out an appropriate level of due diligence on your proposal. This will typically include a commercial and financial assessment, market analysis, clarification on any equity or legal issues (where relevant) and third party validations.
- When this is complete, an investment proposal will be prepared for consideration by a decision-making committee.
- Following a successful approval, a formal letter of offer will be issued detailing the associated terms and conditions and outlining how payment will be made.
