Business owners in Ireland: You can be qualified for a subsidy of up to €2,500 to trade online, didn’t you know? According to the National Digital Strategy of the Government, LEO will pay the remaining 50% of the cost of the website up to a maximum of €2,500, with the LEO covering 50% of the price. In addition, individuals who have already utilized the grant are now capable of applying for a new coupon to improve what they presently possess.
Small firms with up to 10 workers may increase their online trading, increase revenues, and expand into new markets with the support of the Trading Online Voucher Scheme. With a 50% company co-funding requirement, up to €2,500 is accessible through the Local Enterprise Offices. You should not pass up this fantastic chance.
You can reapply to the Trading Online Grant Scheme if you have already used it to increase your capacity to trade online. The applicant company must provide 50% of the money.
Funding enables you to build new customer-facing apps or add payment and booking functionality to your website. The voucher is also valid for subscriptions to reasonably priced online retail platform solutions, which may help firms get started with online retailing quickly.
Which Grant Is It Called?
Your Local Enterprise Office is in charge of managing the grant, which is officially known as the “Trading Online Voucher” (TOV).
Requesting For An Irish Website Grant
A 6% share of the GDP is made up of the digital economy in Ireland. Customer spending amounts to almost €850,000 each hour, according to this. Due to the prevalence of e-commerce among Irish SMEs, Ireland is the first in Europe to implement digital technologies. However, according to the 2019 Digital Economy and Society Index, it is rated seventh (DESI).
However, only 32% of Irish SMEs have an online website, whereas only 69% of SMEs have a website. Because 70% of internet purchases are made outside of the country, most SMEs are left out of the commercial potential given by the digital world.
Most companies without an internet presence blame a shortage of funds, and the expense of developing a website is a concern for them. However, the coronavirus pandemic has made offline trade more difficult. Consequently, SMEs must transition to the virtual world if they want to withstand the economic fallout from the recession. The incredible thing is that grants are available to you, so you may have an internet presence for your company without spending much money.
Trading Online Vouchers: What Are They?
Small firms with less than ten workers, a revenue of under €2 million, and a minimum of six months in operation can qualify for a Trading Online Voucher (TOV), a financial incentive. This Trade Online Voucher (TOV) encourages the applicant firm to expand its online trading presence. The voucher is managed by your Local Enterprise Office (LEO) and is given in the form of matched money, with the highest amount that may be paid being €2,500 or 50% of the qualified cost (whichever is less), exclusive of VAT.
Why is there a “Trading Online Voucher” (also known as a “TOV” or “Online Grant”)?
Online purchases made by Irish customers average about €850,000.00 every hour. The number of individuals making purchases online is increasing, yet just 30% of small Irish enterprises are thought to be actively involved in e-Commerce sales. This proportion may be considerably lower for companies with less than ten employees. According to current estimates, 70% of all internet items purchased in Ireland are made in foreign marketplaces. Now more than ever, it’s critical to make sure that companies understand what’s going on and are motivated and assisted in adapting appropriately to this digital world.
The National Digital Strategy seeks to encourage more enterprises to conduct online commerce to promote this objective. To do this, the Department of Communications, Climate Action & Environment (DCCAE) introduced the Trading Online Voucher Scheme and collaborated with the Local Enterprise Offices (LEO) to provide it to Irish firms. Vouchers are now offered to qualified firms in a restricted quantity. Attending the required informational lecture is a requirement for those who want to use a coupon. The program’s goal and the best ways to apply and benefit from the Trading Online Voucher will be explained to seminar participants at each event.
What requirements must I fulfil to qualify for the Trading Online Voucher?
- A maximum of €2,500 in vouchers may be purchased, equalling 50% of qualified expenses (excluding VAT).
- Obtaining voucher permission is required before spending any expenses.
- Own work is not a legal expenditure.
- Only third-party charges will be taken into account.
- All invoices from other parties or suppliers must be accurate business documents (e.g., Tax and Business Registration details)
How can I see whether my company is eligible for the Trading Online Voucher Scheme?
Companies who want to be a member of the scheme must:
- ten or fewer staff;
- less than €2 million in revenue;
- trade for a minimum of six months,
- be situated in the geographic area of the local business office to which they are applying.
Grants Available For Different Types Of Websites
The grants will motivate more Irish companies to transfer their company online and increase their online presence. The most popular website grants in Ireland are those listed below:
- Online trade coupons through enterprise offices are available locally
- Allowance for Return to Work from Social Welfare
- Online Retail Scheme for COVID-19 by Enterprise Ireland
The online Trading Voucher is the main grant available to Irish small enterprises for building websites. The main topic of this post is the grant’s ability to assist you in establishing digital visibility that will support business growth.
Online trade coupons through enterprise offices are available locally.
The National Digital Strategy is a Department of Communications, Energy & Natural Resources (DCENR) project, which the Local Enterprise Office oversees. More small firms will be encouraged to conduct online commerce thanks to the funding. Businesses that qualify can earn up to €2,500, or up to 90% of the project cost, to increase their ability to do online business. Since its inception in 2014, the grant has benefited more than 4,000 enterprises.
In addition to providing financing, the program also includes practice classes on website creation, social media usage, digital marketing, and SEO to aid businesses in choosing the best options for building their online brands.
The firms that received the funding saw their lead generation soar by 81%, while their revenues jumped by 21%, per the Action Plan For Jobs 2018 report. For the very first time, exporting was done by up to 60% of the companies. They used the capital to design their company’s overall strategy. You may create a clever website that ensures high ROI conversion rates with the help of this grant.
The method of application
You should initially contact our experts so they can advise you on the upcoming procedure. When submitting your application, you must first watch a Local Enterprise Office online session. A cost for the website development project, together with your selection criteria for the web designer, should be sent with the application.
The primary driving element needs to be ROI. You do not need to pick low-quality web development services due to cost because the Local Enterprise Office is more concerned with ROI than price relevance.
Allowance for Return to Work from Social Welfare
You may be eligible for the TAT (Technical Assistance and Training) grant to assist with the start-up costs of your firm if you are enrolled in the Back to Work Enterprise Allowance program. In addition, your company will get a grant from Social Welfare worth up to €2500, of which you may spend up to €500 on web design and related services. The charges related to creating the website will be paid directly to the supplier.
The grant is sufficient to get your firm up and running while you create its internet presence. For further details about the funding, you may speak with your employment facilitator.
Online Retail Scheme for COVID-19 by Enterprise Ireland
Businesses that are High Potential Start-Ups are eligible for the funding for an online retail website (HPSUs). In this context, export-oriented companies are meant. The Department of Business created the program, Enterprise and Innovation (DBEI) to assist retail businesses in expanding their online capability. 80% of the project expenditures, up to a maximum of €40,000, may be supported if you are given the grant. To be eligible for the award, you must have at least ten workers working for you in Ireland and have already established an online presence through social media networks or websites.
The grant’s major goals are to research the advantages of the internet presence and create and implement a marketing presence for domestic and global brand awareness.
Whether the authorities agree to provide you with a grant will depend on how well your application is written. Therefore, your application must be top-notch to highlight the best potential for an internet business. To assist you in developing a strong proposal, you should speak with specialists with expertise in the online business field.