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Dublin: 18 °C Friday 31 October, 2014

€3.78 million funding to small businesses to ‘create and sustain 550 jobs’

A number of County and City Enterprise Boards have been granted additional funding to meet demand.

Image: H. Brauer via Shutterstock

AN ADDITIONAL €3.78 million in funding is to made available to the County and City Enterprise Boards (CEBs) to fund job creation projects for the remainder of this year, the the Department of Jobs, Enterprise and Innovation has announced.

The additional funding is to be provided in response to specific requests from CEBs to meet demand, and will be added to the €15 million in capital funding already provided to CEBs this year.

CEBs are tasked with providing a source of support for micro-enterprises in start-up and expansion phases, and to to promote and develop indigenous micro-enterprise potential and to stimulate economic activity and entrepreneurship at local level.

“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,” said Minister for Small Business John Perry.

“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 said it was the second year in succession that the CEBs have indicated the demand for their services is so strong that they needed additional funding to respond to the needs of local micro-enterprises. “This is a clear demonstration that Ireland has a vibrant entrepreneurial sector and the Government is committed to supporting those involved in their endeavours,” he said.

The additional €3.78 million funding will be allocated to 30 CEBs to 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.

Each CEB was recently asked to examine the funding it currently has available in order to determine whether it was sufficient to cover the project proposals coming to them over the rest of the year, and five concluded that their existing allocation of funds in 2012 was sufficient to meet their needs.

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