Get €2,500 Local Enterprise Office Trading Online Voucher in 2020
Trading Online Voucher in 2020
Telling the whole world that you have a new product/service is very important especially when it comes to generating leads. The common worry, however, is overspending at this early stage of the campaign.
Don’t worry because you’re not the only one who’s feeling these pre-launch jitters. It’s a fright that all entrepreneurs go through as they try and grow their business. If you remain “unknown”, then there’s really no chance people will find you or your product. The only problem is that marketing requires investment.
We’ve got great news for all budding entrepreneurs in Ireland! The Local Enterprise Office (LEO), who’s always been giving such a fantastic support for start-up entrepreneurs is giving out financial assistance to help you get found online and make some noise around your business.
Interested? Apply for this amazing grant so you can receive a €2,500 Local Enterprise Office Grant for Trading and Marketing Online.
How does the Online Voucher Scheme work? How can it help your SME?
The Trading Online Voucher Scheme is conceptualised to aid small businesses in getting set up online to kick start their business. Entreprise Ireland previously reported that “only 23% of small Irish business are engaged in any meaningful way in eCommerce sales”. Because of this, about 70% of sales come from overseas markets.
What if we told you that Ireland holds the title of having the biggest number of international international online shoppers in the world? This is no joke. Ipsos conducted a survey with over 1,000 Irish respondents to assess their shopping habits and the results proved it. We’re #1 when it comes to online shopping. This fact alone should give Irish entrepreneurs the overwhelming desire to give their online presence a priority. We should be able to enjoy a bigger piece of the cake since we’re local!
The Trading Online Voucher is LEO’s answer, as a part of their National Digital Strategy to help make this happen. If you’ll check the LEO website, the grant is described as follows, “Under the scheme a qualifying business may apply for matched funding to a maximum value of €2,500 or 50% of eligible expenditure (exclusive of VAT), whichever is the lesser.” This means that you need to allocate a budget of €2,500 so that the LEO can match it.
Thousands of SME’s have already availed of the grant and if you want to be part of the program, all you need to do is reach out to your Local Enterprise Office and get the process started.
Want to know if you’re qualified to receive the trading online voucher grant?
You’d be happy to know that the criteria to apply is very lenient. Any SME in need of financial support should not have an issue getting qualified. To be considered, your business must have:
- Limited online trading presence
- Must be trading for at least 6 months
- Must have 10 employees or less
- Must have a turnover of less than €2M
- The business should also be located in an area covered by the scheme
Your business is not qualified if you are:
- Trade associations or company representation bodies
- Semi-state bodies
- Businesses assessed by the LEO as capable of growing without assistance of the scheme e.g. business which are already receiving similar financial support from a state body.
The grant can not be used for seminars or conferences or projects that are contrary to public policy.
Where can I spend the €2,500 Trading Online Voucher?
You’ll be surprised to know that the voucher can be used for a lot of things. Here’s a list of things you can spend the voucher on and see if it fits your marketing strategy:
- IT consultation
- Development or upgrade of an e-commerce website
- Implementing online payments or booking systems
- Purchase of Internet-related software
- Purchase of online advertising (this purchase cannot make up any more than 30% of approved Voucher costs and can only be drawn down in one payment phase)
- Developing an app (or multi-platform webpages)
- Development of a digital marketing strategy
- Implementing a digital marketing strategy
- Training/skills development specifically to establish and manage an online trading activity
In order to avail, SMEs are required by the LEO to attend an information event as well as submit the application which they will evaluate via the following criteria:
- Eligibility for the scheme
- Value-added potential
- Export potential
- Job creation potential
- Financial sustainability
Here at Brand Nova Digital, we help SMEs who are applying for grants like these and provide them with marketing advice to help prepare them for the application and evaluation process. We have the expertise to help you realise the marketing activities that will serve your business best and to help ensure that you get good results with your €5,000 budget.