Written Answers - Departmental Funding

Tuesday, 29 June 2010

Dáil Éireann Debate
Vol. 713 No. 4

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  108.  Deputy Richard Bruton  Information on Richard Bruton  Zoom on Richard Bruton   asked the Minister for Enterprise, Trade and Innovation  Information on Batt O'Keeffe  Zoom on Batt O'Keeffe   further to Parliamentary Question No. 108 of 15 June 2010, if his Department retains a contingency fund which could be channelled to support the development of start up enterprise facilities, when a town, as detailed, suffers a sudden and significant job loss. [28398/10]

Minister for Enterprise, Trade and Innovation (Deputy Batt O’Keeffe): Information on Batt O'Keeffe  Zoom on Batt O'Keeffe  State assistance for small businesses and services in Ireland is delivered principally by the enterprise development agencies responsible for indigenous enterprise i.e. the County and City Enterprise Boards (CEBs) and Enterprise Ireland. My Department does not provide direct funding or grants to businesses. Available State funding for business start-ups would be accessed through either of these Agencies.

The County Enterprise Boards (CEBs) have primary responsibility for the delivery of State support to the indigenous micro-enterprise sector i.e. businesses which employ 10 or less workers. The CEBs, through both financial and non-financial assistance, support the sector in the start-up and expansion phases and stimulate enterprise potential at local level. The CEBs give priority to enterprises in the manufacturing or internationally traded services sector and they must always consider any potential for deadweight and displacement arising from the provision of assistance to a proposed enterprise. The priorities for the CEBs in 2010 are to assist owner/managers in enhancing the survival and sustainability of their businesses in these difficult economic times and to assist people wishing to start their own business including those made redundant. Potential entrepreneurs are advised to contact their local CEB to discuss their business needs with their local Board. Contact details for individual CEBs can be found by accessing the following website: www.enterpriseboards.ie

The remit of Enterprise Ireland is to support start-ups that have the potential to employ more than 10 and achieve €1m in exports. These are start-ups that are typically highly innovative and are in a position to sell globally from their earliest stage. While the performance of established businesses is vital to the economy, the flow of innovative high potential start-up enterprises into the Irish economy is equally critical for future growth and stimulating the flow of new High Potential Start-ups (HPSUs) and supporting their growth is one of the fundamental poli[907]cies within Enterprise Ireland’s overall strategy for indigenous industry. The main mechanism for funding HPSU clients is through an Innovative HPSU funding offer. EI’s funding contribution is in the form of equity towards the implementation of a business plan. The size of EI’s contribution will be based on the company’s growth potential, the achievement of milestones and value for money criteria. For more information please see www.enterprise-ireland.com.

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