Fermoy Forum

The return of a level 5 lockdown last week has dealt a particularly hard blow to many small to medium Irish businesses who had hoped to kickstart trade in the new year.
It's an overwhelming, stressful and lonely time for many business owners and employees as we continue to navigate our way through this pandemic. It can be difficult to find information, supports and practical guidance relevant to your industry amidst a sea of news articles online. 
Here a few resources that may help you identify and manage the challenges facing your business in this new year:
<h3 style="text-align:center;">Free Practical Advice and Guidance</h3>

Fáilte Ireland has developed a support hub for some of the businesses most affected by the restrictions. It can be accessed for <ins>free</ins> on their website. The hub provides video guides and advice from industry experts on everything from HR Management and Financial Planning to Employee Wellbeing, Operational Guidelines and Sales &amp; Marketing tips.&nbsp;
Their support hub caters for business owners/management of Hotels, B&amp;Bs, Restaurants and Cafés, Pubs, Caravans &amp; Camping, and more.&nbsp;
Visit <a href="https://covid19.failteireland.ie/" target="_self">Covid-19 Support Hub</a> to find the information relevant to your business.
<h3 style="text-align:center;">Loans and other Financial Supports </h3>

Enterprise Ireland is continuing to offer special funding supports to businesses during the Covid-19 pandemic.
While some of their applications are currently closed, they are still accepting applications for their 'Sustaining Enterprise Fund', which offers a sum of between 100,000 to 800,000 to companies that:
<ul>
<li style="text-align:left;">employ 10 or more full-time employees</li>
<li style="text-align:left;">are operating in the manufacturing and internationally traded service sectors</li>
<li style="text-align:left;">have seen (or expect to see) a 15% or greater reduction in actual or projected turnover or profit, or a significant increase in costs, as a result of Covid-19.</li>
</ul>
If you are already an Enterprise Ireland client, you can apply for a 'Business Financial Planning Grant' which covers the cost of obtaining financial assessment and planning services from a professional body. They could assist you in developing a financial plan, applying for external funding, or helping to minimise costs during liquidation.
Find out more about the above and other funding supports at <a href="https://www.enterprise-ireland.com/en/funding-supports/Covid-19-Funding-Supports/" target="_self">COVID-19 Funding Supports</a>.

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For smaller businesses, Local Enterprise Office has been working with Microfinance Ireland since last March to administer small loans to eligible companies.&nbsp;
Their loans of €5,000 to €25,000 are available with zero repayments and zero interest for up to 6 months.&nbsp;
You can apply for funding if you are:
<ul>
<li style="text-align:left;">A business (Sole Trader, Partnership or Limited Company) with less than 10 employees and an annual turnover of up to €2m.</li>
<li style="text-align:left;">unable to secure finance from Bank and/or commercial provider and</li>
<li style="text-align:left;">the business has been impacted by COVID-19 resulting in a 15% or more reduction in turnover or profit.</li>
</ul>
Subject to more or less the same criteria as the above, they also offer a 'Trading Online Voucher Scheme' for businesses who currently have little to no online presence. Financial assistance of up to €2,500 with <ins>co-funding of 50% from the business</ins> is available, along with training and advice to help your business trade online.&nbsp;
Contact the Local Enterprise Office in your area to apply for these schemes. To learn more about these supports and how to apply, visit <a href="https://www.localenterprise.ie/response/" target="_self">https://www.localenterprise.ie/response/</a>.
<h3 style="text-align:center;">Brexit</h3>
January 1st saw the introduction of customs procedures and duties on goods exported to or imported from the UK. This silent change presents a huge challenge to many Irish SMEs who are already struggling to cope with the current COVID-19 restrictions.&nbsp;
Both Enterprise Ireland and the Local Enterprise Office offer a number of different tools for assessing your Brexit-readiness. Click <a href="https://www.prepareforbrexit.com/brexitreadinesschecker/" target="_self">here</a> to check if your business is prepared to deal with any new roadblocks that are now in place.
There are also a number of financial supports available to businesses that are directly involved in trade with the UK. If you source or sell goods within the UK and aren't sure what you need to do next, consult <a href="https://www.prepareforbrexit.com/all-supports/" target="_self">https://www.prepareforbrexit.com/all-supports/</a> for a comprehensive list of institutions offering grants, loans, free advice and customs training.&nbsp;

Financial Supports and Practical Advice Available for Irish SMEs

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