City and County Enterprise Boards (CEBs) are urging former SR Technics workers who want to set up their own business to act fast to avail of grant aid and crucial business support services.
Under the European Globalisation Fund (EGF), former SR Technics workers who were made redundant after 12 February 2009 can apply for grant assistance to fund the setting up of a new business.
To date, €600,000 of grant aid has already been approved for 48 individual start-up businesses, to be set up by former SR Technics workers.
The ‘Business Start-Up’ section of EGF is administered by the (CEBs) in Ireland and the final call for applications is being organised by four CEBs in the region of Dublin Airport: Fingal, Dublin City, Meath and Louth.
They’re warning that former SR Technics workers could miss out on valuable financial assistance and business support services, unless they submit their business proposals quickly.
Typical employment grant around €10k
“The value of each grant varies from project to project, but a typical employment grant is in the region of €10,000, depending on the job specification. There are also grants available for capital expenditure, such as buying new equipment, and these are available for up to 50pc of the cost price,” said Oisin Geoghegan, CEO of the Fingal County Enterprise Board.
“The Enterprise Boards also provide on-going mentoring assistance before, during and after the application process, advising former SR Technics workers around market research and business planning. So far, 60 workers from SR Technics have availed of start your own business training and mentoring support, through the EGF.”
To apply for funding under the EGF, SR Technics workers first have to submit a business proposal outlining their enterprise idea.
Applications should be submitted to the Enterprise Boards and all applications are subject to appraisal by an evaluation committee to assess the business proposal.