The Irish government has opened applications for the latest round of the Online Retail Scheme. Administered by Enterprise Ireland, the scheme provides financial support to retail businesses to develop their ecommerce capabilities and enhance their online presence. The budget for this round is €3.4m, with retailers able to apply for a grant of up to €25,000.
Key details about the Online Retail Scheme:
Over €28m in funding has been allocated to support more than 700 projects from Irish retailers since the scheme's launch in 2018.
More than 70% of the successful retailers from previous rounds of funding are based outside of Dublin.
The scheme is open to Irish-based retail companies that have 10 or more full-time employees and that derive the majority of their revenue from retailing products directly to individual consumers.
The grant is calculated at a maximum of 50% of eligible expenditure, up to €50,000, with a minimum project expenditure of €20,000.
Previous successful applicants for two or more projects under the scheme are not eligible to apply for the current round.
Applications for the scheme are open until May 3rd, 2023.
Minister of State for Employment Affairs and Retail Business, Neale Richmond, TD, has encouraged eligible retailers to apply for the scheme, highlighting the benefits of digitalisation to business success.
In addition to the Online Retail Scheme, smaller retailers with fewer than 10 full-time employees can access support through the Trading Online Voucher scheme (TOVS), offered by Local Enterprise Offices. The TOVS provides eligible businesses with a voucher for €2,500 to help them develop their ecommerce capabilities and includes training in digital marketing and social media.
Overall, the Online Retail Scheme has supported retailers across Ireland to enhance their online presence, boost sales, and better understand customer needs. With applications open until May 3rd, eligible retailers are encouraged to take advantage of this funding opportunity to improve their ecommerce capabilities and grow their business.
More information can be found on Enterprise Ireland’s page, and if you need any assistance, simply reach out to us here, we’d be delighted to help you.