Background information

The COVID-19 Business Financial Planning Grant is a new support for Enterprise Ireland clients and those manufacturing or internationally traded services companies that employ 10 or more full time employees.

The grant is designed to help companies to develop a robust financial plan, including the preparation of documentation required to support applications for external finance from banks and/or other finance providers (including Enterprise Ireland). The COVID-19 Business Financial Planning Grant, worth up to €5,000, will enable companies to access external support from approved financial consultants to prepare a financial plan to secure the company in the short to medium terms.

Content of measure

The grant is targeted at all Enterprise Ireland client companies and is also open to clients of other semi-state bodies (Údarás na Gaeltachta, IDA etc) that employ 10 or more full time staff and are manufacturing and/or in internationally traded services.

Grant support is available up to €5,000 (100% of expenditure) for an engagement with an approved external consultant. The resulting financial plan should help the company to understand its immediate financial position, secure the finance it requires to survive and provide a framework to sustain the business. It should also ensure that the company has a framework to identify and manage its costs and gaps in funding.

Use of measure

According to the Department of Enterprise, Trade and Employment, up to 5 March 2021: 1,025 applications were approved with a total value of €5.07 million.

According to the Department of Enterprise, Trade and Employment: 1,034 applications were received. As of 31 December 2020, 989 were approved with a total value of €4.88 million.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Other businesses	Does not apply to citizens

Actors and funding

Actors	Funding
National government Public support service providers	National funds

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	No involvement as case not in social partner domain	No involvement as case not in social partner domain
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• No involvement
• Main level of involvement: Unknown

Involvement

N/A

Views and reactions

No involvement.

Sources

• 26 April 2020: Enterprise Ireland (www.enterprise-ireland.com)
• 31 December 2020: COVID-19 and Brexit Business Supports Tracker (enterprise.gov.ie)
• 05 March 2021: COVID-19 and Brexit Business Supports Tracker (enterprise.gov.ie)