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Trading Online Voucher Scheme

Irish Government Announces Trading Online Voucher Scheme To Support Small Businesses

Entrepreneurs trying to find their feet in the competitive Irish market can now sustain their business and improve their sales to reach new markets. Under the Irish government's National Digital Strategy, the Local Enterprise Office (LEO) has announced financial assistance to small businesses with up to 10 employees. Grants of maximum €2500 are available along with training and advice to help businesses trade online.

Getting the word out about your new product and service is crucial for generating leads. If no one knows about your brand, no one will buy from you. On the other hand, when trying to grow your business, you may be under the dilemma of spending too much of your tight budget on marketing at an early stage. It is for tackling such teething problems that make the Trading Online Voucher fantastic support for start-ups and small businesses.

Here's Everything You Need to Know About This Scheme.

What Is The Trading Online Voucher Scheme?

The trading online voucher scheme provides grants up to €2500 for helping entrepreneurs to get their business online so that they can start trading successfully. As per Enterprise Ireland, "only 23% of small Irish businesses are engaged in any meaningful way in eCommerce sales" and because of this almost 70% of online sales happen in the overseas market. The Local Enterprise Offices also provide training and further business supports.

Who Can Apply For The TOV?

Small businesses in the Republic of Ireland with at least 6 months of trading can apply for the Trading Online Voucher Scheme. The businesses should not have a turnover of more than €2m and not more than 10 employees. Where your website needs upgrading with payment facilities, development of new apps, or booking processes, you can apply for a second voucher. Also, the voucher can be used towards low cost online retail platform solutions like Shopify to increase the viability of establishing a strong online retail presence online.

What's The Criteria To Apply For A Trading Online Voucher Scheme?

To avail the financial support of €2500, an Irish business needs to meet the following criteria:
  • 10 or fewer employees
  • Limited online trading presence
  • Turnover less than €2m
  • The business should be located in the area covered by the Local Enterprise Office where the application is made
  • Your business should be trading to the LEO for at least 6 months

What Can The €2500 Grant Be Used For?

Once you are approved for the financial support, you can carry out permissible works like-
  • Internet-related software
  • The development or upgrade of an e-commerce website
  • Online advertising
  • App development
  • Consultation with an ICT expert
  • Professional photography for the website
  • Adoption & implementation of a digital marketing strategy
  • Implementation of booking systems or online payments
  • Purchase of online advertisements

You can also use the trading online voucher for online subscriptions to low-cost online retail platform solutions.

Terms To Avail Of The Trading Online Voucher Scheme

When it comes to availing the Trading Online Voucher Scheme, there are some terms for business owners to keep in mind. The full terms to consider are-

  • Online vouchers will have a maximum value of €2500
  • Approval of the voucher must be gained before incurring any expense
  • Own labour should not be considered as an eligible expense
  • Only third party costs will be considered
  • All supplier and third-party invoices should contain accurate business details
Postscript:

Participating in the Trading Online Voucher Scheme can make the process of trading online very easy for you. So what are you still waiting for? If you are a business interested in online trading and looking to avail of the financial support of the Irish government, Plus Promotions can help you.