Business and enterprise was shown to be alive and well at the most recent MOCC (Mayo Open Coffee Club ) meeting held at the Innovation in Business Centre, GMIT, Castlebar, where a number of enterprise support representatives passed on vital information to more than 40 entrepreneurial thinkers who turned up for the event.
John McGee of Mayo County Enterprise Board and Microfinance Ireland explained that under Minister Phil Hogan's Local Government reform, local enterprise offices will be put in place in each county council as a co-ordinating structure for enterprise supports in the county. “The Mayo County Enterprise Board is being abolished but the new enterprise office needs to be at the cutting edge of identifying start-up businesses. That one-to-one support can be crucial and those seeking support with their business need to engage with the services on offer for advice.
“In the region there are many supports for businesses, from Enterprise Ireland; LEADER; the Innovation in Business Centre in GMIT; Westbic; Udaras na Gaeltachta; Mayo Ideas Laboratory and the new local enterprise office. One of these could help you. If you have an idea, the opportunities are there,” said Mr McGee.
Lorraine Toner, enterprise development officer with South West Mayo Development Board, stated that funding under rural development proposals were still available in the 2007-2013 programme. “This can be about diversification for farmers into non-agricultural activities, to support income. For example, we have funded the equipment and trailer for a mobile mill operator. Also, tourism activities, such as bike hire, zorbing, fishing day trips, we are in a position to fund innovative tourism products like these that don't put someone else out of business. We also offer specialist training and capital funding of 75 per cent up to a maximum of €150,000, or €200,000 for an exception.”
Ms Toner added that the LEADER money funding the board's programmes is European money, 85 per cent of which comes from the EU, with 15 per cent matched by Ireland. SWMD projects had been allocated €8 million.
Margaret Charleton, regional development executive of Enterprise Ireland for Galway, Mayo and Roscommon, said the group's main goal was prospecting for HPSVs, ie, high potential start-ups. “We support enterprises that have 10 or more staff. It doesn't need 10 staff in place at the start but it must show high growth potential. We are working with Irish entrepreneurs, Irish businesses and research and investment communities. The ultimate objective is export and increased exports. We work with new and established businesses to promote third level students to get involved.”
Ms Charleton added that various incentives, including Innovation Vouchers to the value of €5,000 to sponsor third level research work on a project was available to established businesses as well as a Lean Transform Programme, designed to help increase productivity in existing companies. A total of 35 million euro per annum goes to funding start-ups and expansion, export and overseas operations programme were primary targets. “We are looking for businesses that are unique and innovative with revenues up to one million per year projected after year three. We do trade fairs, mentoring, feasibility studies, introduction to venture capitalist or business angels and offer a competitive start fund up to €50,000 for your own investment of €5,000.”
Further information on all the above business supports can be found on the organisations’ websites.
