New Enterprise Centre fund to boost local businesses

The scheme, which Minister Heather Humphreys devised during her time as Business Minister, will provide up to €150,000 to enterprise centres around the country.

The roll-out of a new €12 million Enterprise Centre fund will provide a welcome boost to businesses in Cavan and Monaghan.

The scheme, which Minister Heather Humphreys devised during her time as Business Minister, will provide up to €150,000 to enterprise centres around the country.

Commenting on the scheme, Minister Humphreys said: “As Minister for Business, Enterprise and Innovation, I looked at ways we could assist businesses during the Covid-19 pandemic, which has caused huge hardship across the economy.

“I met with representatives from enterprise centres across the country a number of months ago and at that time, I asked my officials to examine what supports we could put in place to assist them at this difficult time.”

Enterprise Centres and their staff provide training, mentorship and advice to hundreds of companies across Ireland, and eligible centres can apply for funding of a minimum of €10,000 and up to a maximum of €150,000.

Funding will be administered in the form of grant aid of up to 80 per cent of eligible costs detailed in the Recovery Plan submitted by each applicant.

Applicants for funding will need to demonstrate the ability to finance the balance of funding required to implement the Recovery Plan. The required balanced of funding can take the form of revenue generated through the centres core activities over the duration of the plan.

“I’m delighted to see that the Enterprise Centre fund was announced by the Tánaiste Leo Varadkar and I look forward to seeing the positive impact it will have and the benefits it will bring to businesses,” said Minister Humphreys.