A. The County Enterprise Board has 3 types of grants available: -
(i) Capital Grants - up to 50% of capital expenditure to a maximum of €75,000 ( an element of which is refundable)
(ii) Employment Grants - up to a maximum of €7,500 per new full-time employee
(iii) Feasibility Study Grant (up to 60% of the cost to a maximum of €6,350)

 

A. A Feasibility Study Grant can be used to assess the viability of a business proposal. This can include research and development, prototype production, test marketing, consultancy advice, financial projections, the preparation of a formal business plan and generally seeks to conclude whether an innovative new service should be developed or a new product should be taken to production stage. It is important to remember that if you are grant approved for a Feasibility Study/Business Plan that you will not be paid grant monies until a Feasibility Study/Business Plan of an acceptable standard has been submitted to the Enterprise Board. A maximum of 60% of the cost of preparing a Feasibility Study/Business Plan, subject to an overall limit of €6,350 in the case of a single project, is available.

A. A Capital Grant may be obtained to purchase equipment, to refurbish or outfit a building, or to purchase machinery (which in some instances may be second-hand). A maximum of €75,000 or 50% of the net cost of eligible fixed assets whichever is the lesser in a new or expanding business, subject to at least that portion of the incentive in excess of 40% being in refundable form (equity/repayment grant). Capital grants are paid on the basis of expenditure net of VAT being properly vouched and certified.

Q. How is an Employment Grant paid?

A. An Employment Grant is paid in two parts. The first half of the grant is paid when the person is taken on (on a full time basis) and registered for PRSI. The second half of the grant is payable six months later, assuming the person is still in full-time employment. Employers will be required to show that the employee has been registered and is being returned for Income Tax, and that a Tax Deduction Card is available for inspection. The Employment Grant may also apply to a person starting up his/her own business.

 

Grants are only paid in respect of additional fulltime employees who are not in receipt of other Social Welfare payments.

 

Employment grants can only be approved where it is shown that job shortages do not exist in that particular sector.

 

A. Individuals looking to establish a new business or small existing businesses looking to expand their operations should in the first instance contact the County Enterprise Board at 049-4377200 seeking to discuss their project (in confidence) with a staff member.

 

Following that a completed application form with requested supplementary information will be requested.
Cavan County Enterprise Board’s offices are located in Cavan Innovation and Technology Centre, Dublin Road, Cavan. Tel: 049-4377200.
The project is assessed on the basis of eligibility and viability (commercial and technical) by an Evaluation Committee. If approved by the Board an offer of grant assistance will be made in writing. Depending on the scheduling of Board meetings a decision can take approximately 4-6 weeks from receipt of completed application form and all requested supplementary information.

Q Is Cavan a good place to set up a new business?

A Cavan is one of only nine centres in Ireland selected as development hubs under the National Spatial Strategy (NSS). It is recognised that this designation presents major opportunities for development not just for Cavan town but for the County as a whole. Cavan is centrally positioned in the North-Midlands and is both a gateway to and from Northern Ireland and a pivotal point on the East/West route between Dundalk and Sligo. While parts of the county have now been identified as being within the greater Dublin commuter belt, it has retained its unspoilt and attractive environment relatively free from traffic congestion. In Cavan town in particular recent developments over the past couple of years include a major new retail park, the refurbishment of Hotel Kilmore, numerous high quality housing developments, and the construction of a major hotel, health spa and leisure complex at the former Farnham estate (Radisson). The expansion of the College of Further Studies on a new greenfield site also provides a further boost in terms of the availability of local talent for new business. Overall, the development of Cavan’s infrastructure is now accelerating at pace and it’s lower cost base relative to city environs make it an ideal location from which to operate a business.

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