Boost Your Online Retail Presence with €3.4m Funding Scheme
Enhance Your Online Retail Presence with up to €25k funding
Details of the Online Retail Scheme and Eligibility Criteria
The Department of Enterprise Trade and Employment (DETE) has launched the Online Retail Scheme to assist Irish-based retailers in enhancing their online presence and meeting the demand for online shopping. Administered by Enterprise Ireland on behalf of DETE, the Competitive Fund has a total of €3.4m available for funding, and applications are open for submission of projects.
The scheme aims to encourage retailers to enhance their online presence, increase customer base, and create a resilient business globally. Eligible applicants can receive up to €25k or 50% of the project’s eligible costs if successful.
Irish-based retail enterprises with a physical store, an existing online presence, and ten or more full-time employees can apply to the scheme. They should generate most of their revenue by selling products to individual consumers and have ambitions to expand internationally. The submission must be in the name of a firm incorporated and registered with the Companies Registration Office in the Republic of Ireland.
From April 4th to May 3rd, 2023, companies can apply for funding for the Online Retail Scheme. Previous unsuccessful applicants can reapply with an updated proposal. Companies that don’t meet call requirements can still qualify for other financial assistance from Enterprise Ireland. However, they must suggest significant online profile enhancements to qualify.
The scheme excludes companies that mainly offer services instead of retail products, such as financial services or car dealerships. Additionally, it does not include companies that primarily buy or market for retail stores, or franchisees who receive significant online support from their franchisors. Furthermore, companies involved in gambling or the tobacco industry are also ineligible for the scheme.
Elements Involved in Developing a Sophisticated Online Presence
Developing a sophisticated and transactional online presence and strategy typically involves research, consultancy costs for strategy development, implementation, and in-house training. The enterprise must have ten full-time employees working in the Republic of Ireland or increase to this level since the recent accounting period. The requirement is necessary to be eligible for the scheme. This requirement applies until the current call, which opened on 4th April 2023.
Benefits of the Online Retail Scheme for Irish-based Retailers
The Online Retail Scheme supports Irish-based retailers with an existing online presence to respond to the demand for online shopping. It strengthens small retailers in finding and retaining customers and protects their physical operations. It also supports the development of digital skills and the creation of new roles in e-commerce and supporting activities.
The Online Retail Scheme by the Department of Enterprise Trade and Employment is a competitive fund. It helps Irish-based retailers improve their online presence and meet the demand for online shopping. Apply now to receive funding of up to €25k.
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