€3.78million extra funding for small businesses to create and sustain 505 jobs – Perry

The Minister for Small Business, John Perry T.D., today [Monday] announced the provision of an additional €3.78million to the County and City Enterprise Boards (CEBs) directly to fund job creation projects in the remaining months of 2012. The additional funding is provided in response to specific requests from CEBs to meet identified demand. The funding is additional to the €15million in capital funding already provided to CEBs in 2012. 

Making the announcement, Minister Perry said: “It is well established that a huge proportion of jobs in this country are held in small, local enterprises. These companies are the lifeblood that is playing a key role in helping to restore our economy to a healthier footing. The Government recognises the importance of this role and so my Department has secured additional capital funding for the County and City Enterprise Boards (CEBs) that will support and encourage these companies to start-up or expand their services and thereby create and sustain jobs around the country.”

The Minister added, “This is the second year in succession that the CEBs have indicated that the demand for their services is so strong that they need additional funding to respond to the needs of micro-enterprises in their area. This is a clear demonstration that Ireland has a vibrant entrepreneurial sector and the Government is committed to supporting those involved in their endeavors. I am delighted therefore to announce that additional funding of €3.78 million will be allocated to 30 CEBs, which will provide sufficient direct capital assistance and other supports, such as mentoring and training, to assist in creating or sustaining 505 jobs throughout the counties concerned.”

This announcement follows an exercise in which each CEB was asked to examine the funding it currently has available and to determine whether this was sufficient to cover the project proposals coming to them over the rest of the year. Arising from this exercise, 5 Boards concluded that their existing allocation of funds in 2012 was sufficient to meet their needs.

Note for Editors:

The role of the County and City Enterprise Boards (CEBs) is to provide a source of support for micro-enterprise in the start-up and expansion phases, to promote and develop indigenous micro-enterprise potential and to stimulate economic activity and entrepreneurship at local level.

Subject to certain eligibility criteria, the Board supports individuals, firms and community groups provided that the proposed projects have the capacity to achieve commercial viability. The forms of financial assistance which are available, subject to certain eligibility criteria, include Priming Grants, Expansion/ Development Grants and Feasibility/ Innovation Study Grants. The provision of non-financial assistance can take the form of a wide range of business advice such as Programmes covering Business Management, Mentoring, E-commerce, Enterprise Education, and Women in Business Networks. These non-financial “soft” supports may not directly generate jobs in an enterprise, but they can contribute positively to the wider policy objective of building an enterprise culture and, at the level of individual businesses, of improving the skills of owner/managers enabling them to sustain and grow their businesses.

Each CEB has examined its local demand and has assessed projects that it is already aware of and which are sufficiently advanced to complete their business arrangements in 2012 in order to draw down the grant aid provided before year end.

CEB Additional Funding – October 2012
CEB No of Jobs Associated Total Additional Capital Funding Requirement (€)
Carlow 55 115,000
Cavan 7 70,000
Clare 16 140,000
Cork City 24 35,000
Cork South 64 612,000
Cork West 6 25,000
Donegal 57 340,000
Dublin City 30 400,000
Dublin South 12 100,000
Dun Laoghaire/ Rathdown 10 150,000
Fingal 20 200,000
Galway 14 120,000
Kerry 12 120,000
Kildare 8 60,000
Kilkenny 7 75,000
Leitrim 2 20,000
Limerick City 3 61,250
Longford 8 55,000
Louth 5 45,000
Mayo 20 105,000
Monaghan 7 20,000
Roscommon 1.5 23,500
Sligo 13 45,000
Tipperary North 5.5 95,000
Tipperary South 10 60,000
Waterford City 24 130,000
Waterford County 13 50,000
Westmeath 26 174,000
Wexford 10 180,000
Wicklow 15 150,000
Total 505 3,775,750