Growth

THIS SCHEME IS CURRENTLY CLOSED

SME Growth Grant Scheme (2nd issue)

MAXIMUM GRANT CAPPED AT €500,000

This scheme assists SMEs by providing support in the form of non-repayable Grants to part-finance investments towards the implementation of their growth strategies related to the extension of the capacity of an existing establishment, or the setting up of a new establishment.

Target Group

• Micro Enterprises
• Small Enterprises
• Medium-sized Enterprises

For many SMEs, achieving growth is an important business objective. Market demands require rapid response from enterprises to sustain their competitiveness and grow. As they pursue growth in sales and earnings, SMEs are putting in place a variety of measures to ensure they are well positioned to exploit growth opportunities. Such challenges push SMEs to take up initiatives to increase their market share, enter new markets and internationalise to overcome regional challenges.

SMEs have limited financial resources and encounter difficulties in accessing finance to generate the required capital to take up investment projects. The lack of readily available financing options pose greater difficulties to SMEs to react to market demands. where SMEs are required to undertake rapid and timely intervention through investment on expansion projects to enable them to secure the adequate capacity levels to re-align and secure their supply levels.

Eligible Actions

Initial Investment in tangible and intangible assets related to:

• the extension of the capacity of an existing establishment,
• the setting up of a new establishment.

The investment should result in the growth of the undertaking, and an increase in the number of employees (full-time equivalent) employed by the undertaking.

Eligible Costs

• Lease of private operational premises
• Construction/upgrades on private operational premises
• Purchasing of equipment, machinery and plant
• Patents and licenses

This Scheme is demand driven and managed through an open rolling call, which can be found here.

Documents related to Growth can be found below:

• Guidelines for Implementation – V.20 19.12.23
• SME Growth – Sample Application Form V.1
• SME Growth 2nd Issue – Notes to Applicants V.1
• SME Growth Grant Scheme – FAQs V.7
• SME Growth Grant Scheme (2nd Issue) – Guidance Notes_141222