Introduction The purpose of the Credit Guarantee (Amendment) Act 2022 is to make certain amendments to the Credit Guarantee Act 2012 (as amended) to support the needs of businesses to access additional finance in response to the economic difficulties resulting from the aggression against Ukraine by Russia by creating a specific Ukraine Credit Guarantee Scheme. The purpose is also to amend the Loan Guarantee Schemes […]
Microenterprise Loan Fund The Microenterprise Loan Fund Act 2012 provides for the establishment of a Microenterprise Loan Fund and provides for the formation of a private company to lend to microenterprise and to manage the Fund. The Fund is designed to stimulate lending to sustainable micro-enterprises and is targeted at start-up, newly established, or growing micro-enterprises across all industry sectors, employing not more than 10 […]
Udaras Constitution Údarás na Gaeltachta was reformed in 2012. Direct elections by persons in Gaeltacht communities are abolished. Number of board members is reduced to 12. Members are nominated by County Councils containing Gaeltacht areas. Five are nominated by the Councils and seven by the Minister. All electoral divisions within a Gaeltacht as currently defined under the Gaeltacht areas orders are to continue to be […]
Competivie Start Fund Companies that have a well-developed business plan which needs to raise investment for business purposes may apply for the Competitive Start Fund or the innovative HPSU funds (equity). The Competitive Start Fund (equity) investment is designed to accelerate the development of high-potential start-up companies by supporting the achievement of technical and commercial milestones, such as evaluating international markets or building a prototype. […]
Market Access Grant The Market Access Grant is one of the key supports that Enterprise Ireland employs in order to assist companies to build their businesses in the international market. The EI client company may use all or a combination of new staff, reassigned staff or consultants to undertake the project. It may incur marketing costs up to market launch. The grant is available to […]
Strategic Banking Corporation The Strategic Banking Corporation of Ireland Act, 2014, establishes the Strategic Banking Corporation of Ireland. Its purpose is to lend strategically within the economy. It is focused on the credit needs of small to medium-sized enterprises in the first instance. It is intended that in due course, other areas of the economy where credit needs are not being served will be assisted […]
Science Foundation Ireland The Industrial Development (Science Foundation Act 2003) established Science Foundation Ireland to promote, develop and assist in carrying out orientated research in strategic areas of scientific endeavour that concern future development and competitiveness of industry and enterprise in the State. Science Foundation Ireland was formed under the Industrial Development and Science Foundation Ireland Act 2003. Its board is appointed by the Minister […]
Enterprise Ireland Enterprise Ireland is the State agency with primary responsibility for the development of manufacturing and internationally traded services. It provides funding and support for domestic businesses. The businesses assisted range from start-ups, those with relatively small scale activities with high potential start-up to larger companies who wish to expand their activities. EI seeks to improve efficiency and grow international market share. It provides […]
County Enterprise Boards The Industrial Development Act 1995 recognised the County Enterprise Boards, which had been established in 1993. It made provision for grants to enable CEBs for the purpose of meeting their administration and other expenses. A CEB was empowered, for the purpose of assisting economic development within its area by means of enterprise creation or business development; to make a loan on such […]
Property Supports The agencies (IDA(Ireland) and Enterprise Ireland) have the power to facilitate the provision of sites for the establishment, development and maintenance of industrial undertakings. They may acquire land by agreement compulsorily. They may construct, adopt and maintain buildings and provide services for the same. The agencies may make grants to entities which themselves construct or adopt buildings for business. The agencies enjoy certain […]
Early Years In earlier decades, the IDA (established in 1949 as the Industrial Development Authority) concentrated on traditional labour-intensive industries. In the 1970s and 80s, its focus changed to more advanced technologies, including electronics, pharmaceutical and chemical industries. Údarás na Gaeltachta was established in 1979 with responsibility for industrial (and certain other policies) in Gaeltacht areas. Until 1981, incentives were restricted to manufacturing businesses. Initially, […]
The Industrial Development Authority was formed in 1949. In 1994, it became the Industrial Development Agency Ireland or IDA Ireland. The IDA has branches throughout the world. IDA Ireland is the State body which seeks foreign direct investment. It has been very successful over the last 40 years, in attracting significant investment to Ireland, based on the combination of taxation incentives, educated and high skilled […]
Ireland’s Industrial Policy has been a key part of its economic strategy for over 60 years. A key element has been the attraction of foreign direct investment by various supports and incentives, in particular, taxation incentives. The Industrial Development Authority was first established in 1950 and has played a central role in industrial policy. IDA Ireland deals with international businesses, while Enterprise Ireland deals with […]
Establishment The Western Development Commission was established under the Western Development Act 1988 to promote economic and social development in the counties of Clare, Donegal, Leitrim, Mayo, Roscommon and Sligo. The Commission is a corporate body. Its functions are to assist, foster and encourage economic and social development in the Western region. This is to include, in particular, fostering and encouraging the establishment, maintenance and […]
Dublin Hub Development Agency The Dublin Hub Development Agency Act 2003 provided for the establishment of Digital Media Development Limited as the Dublin Hub Development Agency under the auspices of the Minister for Public Enterprise. The company had originally been established by the government in 2000 under the Department of the Taoiseach. It was transferred to the Department of Public Enterprises in 2001. The function of […]