Dept. of Finance freeze grant aid for new business

E

Elphaba

Guest
WHY.....with people losing jobs all over the place would anyone restrict the potential for new start ups and business growth. It does not make economic sense. Out of all the cut backs, surely new enterprise should be encouraged and applauded. We were approved a small capital grant for our new business expansion, which we expected to receive mid March
But have since been told, it will be subject to approval by the Dept. of Finance. I have worked very hard putting a biz plan together and doing market research and factored in cash injection by mid March.
Our local enterprise boards do a great job with all the courses they run,
and financial aid for new start ups. This freeze is hampering their work also.
 
What do you expect from people who don't know the first thing about business?
 
Maybe you could apply for a banking licence and gain access to unlimited pools of state cash?

On a less flippant note, I see great potential for microfinancing in Ireland. Since the government has voted firmly the zombie bank option in relation to the debt crisis, no main stream bank will be in a position to support new businesses for at least a decade. The effort required to apply and obtain grants is often not worth it (since that time and commitment might be better applied to the new business). So there is a real gap for some form of intermediary financing with individuals and businesses lending directly to each other, with no main stream bank involvement.
 
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