Important Change to CEB Funding

29th of September 2009 by conor

I was really pleased to just get a mail from West Cork Enterprise Board about the Tánaiste’s announcement of changes in the way that CEBs can help small businesses. This could really transform the way that grants are handled around the country and finally puts an end to the silliness of people trying to capitalise the un-capitalisable in order to get CEB support.

The Tánaiste and Minister for Enterprise, Trade and Employment, Ms. Mary Coughlan, T.D., has today announced new initiatives aimed at supporting the development of new businesses and fostering an entrepreneurial culture in Ireland. New financial supports, consisting of a Priming Grant, a Business Expansion Grant and a Feasibility/Innovation Grant will replace the existing Capital, Employment and Feasibility Grants being operated by the County & City Enterprise Boards (CEBs).

The Tánaiste announced that she has approved a significant broadening of the financial supports that the CEBs can offer their client businesses. The effect of the move is to broaden the scope of the start up and development costs that can be assisted. As a result of these changes, supports will now be available for all legitimate business costs directly attributable to starting a new business, or growing and developing a business, rather than being restricted to asset acquisition.

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4 Responses to “Important Change to CEB Funding”

dahamsta

September 29th, 2009 at 5:44 pm

Did WCEB give any details or dates?

Gerard Brandon

September 29th, 2009 at 6:00 pm

It will be interesting to see how this filters through the bureaucracy and piles of paperwork. I am not one for squandering money by any means but the start-up needs more flexibility and less administration. Granted the CEB administrators must ensure they allocate appropriately but as I said it is down to the details on how the funds are distributed and the amount of hurdles budding entrepreneurs have to get over to get some.

web2ireland

September 29th, 2009 at 6:10 pm

@dahamsta I think it was just literally announced today so no details.

@Gerard To be fair to the CEBs, they can be very agile and responsive but have been hamstrung by some of the rules they operate under. One issue I do see is that whilst their independence gives each CEB flexibility in what they support, this can mean that those living in poorly run CEB areas are permanently stymied.

Orla Casey

September 29th, 2009 at 6:16 pm

Warm welcome for this but overall issue is still the lack of allocated funds, often committed in 1st 6 months of year.