Up to €150,000 to develop your strategy for a new overseas market
There are over 80 different government supports available to small businesses but many of them are not well known or understood. Each week in the SFA e-zine, we will profile a different support that could improve your business, giving you information and advice.
Market Access Grant
A cash grant of up to €150,000 to offset up to 50% of the cost of entering a new overseas market. The grant can also be used if entering an existing market with a new product or service.
The grant is designed to assist companies to develop viable marketing strategies in target markets. Eligible activities will vary depending on the company and the market, but examples include:
- Verifying that a market opportunity exists
- Determining the best route to market
- Identifying channel partners
- Identifying target customers
- Developing a market/customer-specific value proposition
- Developing an appropriate messaging strategy for target market and customers
The aim of the grant is to assist companies to build their business in international markets. It encourages and supports small businesses to engage diligently in market research before launching in their target market, acquiring the information and expertise to successfully launch a product or service in a new market.
The grant is available to Enterprise Ireland clients only. Companies must discuss their intention to apply with their Development Adviser and preferably with the Market Adviser in the target market prior to filling out the application form (form available here).
If successful, the following expenses can be offset, to a maximum of 50% (€150,000 limit):
- Salary costs of a new staff member in Ireland or overseas
- Salary costs of an existing staff member assigned to carry out the research
- Consultancy costs
- Marketing costs prior to launch, including office rental, trade fair participation, purchase of market research reports and databases and developing marketing collateral
If you are interested in applying, don’t forget:
- Only Enterprise Ireland clients in the manufacturing or services sectors, with more than 10 employees (full time equivalent) are eligible to apply
- The company must be trading for more than five years with sustainable revenues of at least €500,000 (there are some exceptions to the five-year rule)
- Any expenditure incurred prior to receipt of an application by Enterprise Ireland will not be eligible for grant aid
- More information is available on the Enterprise Ireland website.