The Galway County and City Enterprise Board (GCCEB) offers a range of financial supports for new and existing businesses. To qualify for these supports, your business must be operating in a specific area – be innovative and creating employment in the Galway area. Our financial supports for qualifying businesses are in the form of grants – a portion of which is repayable to the GCCEB. We can support businesses by grant aiding the following:
New equipment – Such equipment must be new and generally cannot be portable. Examples include manufacturing equipment and machines, costs of commissioning such equipment, fit-out costs, office equipment, computers and software.
New employees – Grant aid is calculated in line with the salary paid to the employee up to a maximum of €10,000 per employee. The job created must be a new position and a full-time role. This support is available in addition to the other grant supports offered by Revenue and Department of Social Welfare (note 1).
Marketing – You may also qualify for financial assistance in brand development graphic design etc as part of a package of supports.
Miscellaneous – As part of a package of supports, the board will assess whether the promoter can avail of other financial aid on start-up costs, which may include training, web site development or social media interface set-up costs, rent support etc.
When evaluating any application for financial support, the board will review the information provided to assess the best package of support to suit the business, including its need for cash flow. Each application is assessed on an individual basis and is scored on criteria such as:
- Job creation potential
- Export potential/ Import substitution potential
- Market access
- Management potential
- Promoter capability
- Manufacturing/Innovative/Food/Green sector?
- Financial viability
- No displacement of existing activity
- Within remit of Board
In addition to supporting the business in achieving its targets, the board will assign a mentor to work with the promoter and support them with expertise required to ensure the success of the project.
The first step in applying for financial assistance is to develop your business plan. If you need help to prepare a business plan, this can also be provided by the board in the form of training and mentoring.