Grants and Tax Incentives

Will I get a Grant and what Tax Incentives are available?

First, your business should make financial sense without grant aid. However, in addition to your own equity, grant aid or tax incentives may be available for qualifying businesses. Not all businesses are eligible for grant aid.

Tax Incentives
Tax incentives are available to some qualifying businesses, under the Business Expansion Scheme, the SEED Capital Scheme or other programmes for research and development etc. Please contact Waterford County Enterprise Board, Udarás na Gaeltacht, Enterprise Ireland or Revenue for further information. 

Waterford County Enterprise Board
Waterford County Enterprise Board can support qualifying commercial businesses that have less than 10 employees. They also provide training courses and networking opportunities for businesses. The Board can provide mentoring support to all business but cannot fund retail, restaurants or local services such as solicitors, accountants, doctors, dentists, etc. But don’t let that put you off. The following grant aid from Waterford County Enterprise Board is available to qualifying businesses:

• Feasibility Assistance up to a maximum of €5,100
• Capital Assistance up to a maximum of €75,000
• Employment Assistance of €7,500 per new job created to a maximum of 10 jobs
• Equity Assistance up to a maximum of €75,000

Waterford LEADER Partnership
Waterford LEADER Partnership can assist a range of businesses such as:

• Development of tourism facilities and niche tourism and education such as arts and crafts, specialty food provision etc;
• Development of farm shops;
• Helping businesses to innovate and add-value;

Grants are available for:

• Capital Assistance
• Technical Assistance (Feasibility Studies)
• Training Assistance
• Advice & Support.

Waterford County Vocational Educational Committee
County Waterford Vocational Educational Committee (VEC) delivers a course designed to give the would-be entrepreneur the skills to develop and run his/her own business. This course is run at the Business Training Centre in Kilmacthomas (just off the N25). If you are in receipt of statutory redundancy you can have the normal 6 month waiting period for VTOS placement waived. The programme lasts for two years, requiring a minimum attendance of two days per week. While attending this course, the trainee will continue to receive social welfare entitlements, regardless of any profit made from your business activities.

Enterprise Ireland
Enterprise Ireland is the Government agency responsible for the development and promotion of the indigenous business sector. Its mission is to accelerate the development of world-class Irish companies to achieve strong positions in global markets resulting in increased national and regional prosperity. Through an extensive network of offices overseas and regional offices in Ireland, it provides a range of services to client companies to assist them to compete and to grow. Enterprise Ireland’s key focus is helping Irish companies in achieving export sales, investing in research and innovation, competing through productivity, starting up & scaling up and driving regional enterprise. Enterprise Ireland provides advisory and financial support to High Potential Start-Up (HPSU) businesses which are:

• Manufacturing an export focused product or offering an internationally tradable service
• Based on a technical advantage or a pioneering or innovative idea
• Likely to realise annual sales of €1m and employ 10 or more within three years of start-up
• Headquartered or controlled in Ireland.

FÁS
FAS provide training and education for employers and employees under a number of programmes. FÁS can also provide assistance in recruitment, apprenticeships, training and management improvement. For further information contact the FAS office at Waterford Industrial Park, Cork Road, Waterford.

Local Employment Service
The Local Employment Service provides supports for people who are registered unemployed for six months; a dependent partner of a person who is long term unemployed, leave school without qualifications, lone parents or registered with the NRB and available for employment. The Local Employment Service helps people prepare for the workplace. If you are recruiting it may be useful to contact either FÁS or the Local Employment Service.

South East Enterprise Platform Programme at Waterford Institute of Technology
The South East Enterprise Platform Programme provides; business management programmes, incubation facilities, mentoring, business networking and potential for Enterprise Ireland funding. To qualify candidates must have a third-level qualification and ideally several years experience.

The programme is supported by the Waterford Institute of Technology’s Innovation Centre where office space may be available. In addition, the programme is linked to the Telecommunications Systems Software Group which is recognised as a centre of excellence in research and development in the ICT sector.

Udarás na Gaeltachta
Údarás Na Gaeltachta can offer qualifying businesses a range of assistance to start up, locate or expand in the Gaeltacht region of An Rinn and Sean Phobal. Udarás can assist investors through all stages of start up and development, from site identification to help with recruitment, training and legal requirements. Udarás offer a wide range of financial incentives including:

• Feasibility study grants
• Research and development grants
• Capital grants
• Employment grants
• Training grants
• Equity investment
• Marketing schemes