€1.85m funding for micro-enterprises announced

29 Jul 201688 Shares

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A “reallocation of funding” will result in an additional €1.85m being put into Local Enterprise Offices (LEOs) for projects this year.

With around 6,500 micro-enterprises supported by LEOs around the country, the additional funding is hoped to help “create or sustain” around 300 jobs in Ireland. An estimated 7,100 have already been created by these businesses.

The funding will be available for use by the LEOs to provide direct capital grant assistance to micro-enterprises.

LEO

“I’m pleased that micro-enterprises across the country are being further supported today to assist them in creating or sustaining local jobs that are the back-bone of our economy,” said Minister of State for Employment and Small Business, Pat Breen, TD.

“LEOs are a key service in supporting these entrepreneurs or existing businesses and they provide an excellent first-stop-shop service for micro and small businesses in every county in Ireland.”

The breakdown of the funding has also been announced, with Clare (€245,000), south Cork (€250,000) and Limerick (€200,000) being the three areas set to benefit the most.

“Since their establishment in April 2014, LEOs have been facing increased demand for their services as the economy recovers,” said Minister for Jobs, Mary Mitchell O’Connor, TD.

“I am pleased to be able to enable the LEOs to cater for identified demand by adjusting the allocation of the capital funding available for local enterprise development this year.

“This reallocation of €1.85m in local enterprise development capital funding will help the LEOs to support micro-enterprises to create or sustain over 300 jobs in LEOs across the country.”

Complete breakdown of funding

  • Cavan: €70,000
  • Clare: €245,000
  • Cork North/West: €90,000
  • Cork South: €250,000
  • Dublin City: €150,000
  • Dublin South: €55,000
  • Dún Laoghaire/Rathdown: €45,000
  • Fingal: €115,000
  • Kilkenny: €55,000
  • Limerick: €200,000
  • Louth: €250,000
  • Mayo: €80,000
  • Sligo: €40,000
  • Tipperary: €80,000
  • Westmeath: €125,000

Main start-up image via Shutterstock

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Gordon Hunt is a journalist at Siliconrepublic.com

editorial@siliconrepublic.com