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COVID-19 EU PolicyWatch

Database of national-level responses

Eurofound's COVID-19 EU PolicyWatch collates information on the responses of government and social partners to the crisis, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for case IE-2020-14/793 – measures in Ireland

COVID-19 business financial planning grant

Country Ireland , applies nationwide
Time period Open ended, started on 01 April 2020
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Direct subsidies (full or partial)
Author Roisin Farelly (IRN Publishing) and Eurofound
Case created 26 April 2020 (updated 10 May 2021)
Related ERM support instrument

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

Citation

Eurofound (2020), COVID-19 business financial planning grant, case IE-2020-14/793 (measures in Ireland), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch

Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.