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  • Small Business Finance - Information and guidance on how to finance your business.
    significantly or finds new investors Tax Incentive Schemes The Employment and Investment Incentive EII and the Seed Capital Scheme SCS are tax incentive schemes designed to encourage investment in businesses The EII which replaced the Business Expansion Scheme BES in 2012 provides tax relief for investors in companies involved in certain corporate trades while the SCS provides for a refund of income tax already paid by an individual when that individual sets up and takes employment in a new qualifying business Both schemes qualify as State aid and are subject to certain restrictions The SCS is intended for those who are or were in PAYE type employment To be eligible the entrepreneur must enter into a full time employment contract for at least one year with the company as an employee or a director and he or she must acquire at least 15 of the issued share capital of the company The EII allows a qualifying individual who makes a qualifying investment up to a maximum 150 000 for any one year in a qualifying company to avail of income tax relief The investor can initially avail of income tax relief of 30 on the cost of the investment from their total income in the year of the investment If after a three year holding period the company has increased either its number of employees or its expenditure on research and development a further relief of 11 of the cost of the investment will be allowed taking the total relief to 41 The relief may be carried forward to future years if the investor cannot take the full deduction to which they are entitled in any one year The relief is currently scheduled to end in 2013 Both schemes apply only to certain qualifying trading operations and some of these must be certified by relevant development agencies or government departments Full details relating to the investment the company and the qualifying activities of the company are available on Revenue s website here Business Angels Business angels are private individuals who invest relatively small amounts of money in new businesses in return for a share in a start up or early stage business and also contribute their expertise in business management and their personal network of contacts They may invest on an individual basis or as part of business angel syndicates Individual business angels typically invest between 20 000 and 250 000 according to the EBAN the European trade association for business angels seed funds and other early stage investors Two organisations in Ireland seek to match business angels with businesses needing investment the Halo Business Angel Partnership is a joint initiative between Enterprise Ireland InterTradeIreland and the Irish Business and Innovation Centres which is managed by Dublin Business Innovation Centre Limited the Halo Business Angel Network HBAN is joint initiative of Enterprise Ireland and InterTradeIreland which is aimed at developing angel investor syndicates across the island of Ireland Venture Capital Venture capital is private equity provided by professional investment firms

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/equity (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    About Us Contact Us FAQs Tools Downloads Business Start Ups Day to Day Needs Invest Grow Innovate Grow International Business Managing Finances Home start your own business credit overview Credit Overview Banks and non banks provide a range of working capital asset finance and other business credit options for businesses Credit Overview Banks and non banks provide a range of working capital asset finance and other business credit options for businesses The main types of business credit are outlined here For a complete listing credit institutions and retail credit firms regulated by the Central Bank of Ireland please visit the Central Bank s website here For a listing credit intermediaries including non bank providers of asset finance authorised by the National Consumer Agency NCA please visit the NCA s website here For more information on managing your credit and dealing with your bank as well as Government initiatives to facilitate access to credit please visit the Managing Your Finances section here Overview Setting Up a Bank Account Business Finance Options Overview Equity Credit Overview Credit Options Government Supports Overview EU Funding Managing Finances Further Information Lists of regulated institutions Central Bank of Ireland credit institutions National Consumer Agency credit intermediaries

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/credit-overview (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    not cleared interest on the remaining balance may be charged Invoice Discounting Businesses often have significant sums tied up in debtors money due from customers for goods or services provided and for which the business has issued an invoice for payment Invoice discounting allows a business to get cash from its sales invoices earlier than it would otherwise be able to It works by giving you access to a pre determined percentage of invoiced debt A bank may agree to immediately advance up to 80 of the value of approved outstanding invoices Factoring Enterprises with unsatisfactory or inadequate internal credit management and administration systems may choose to sell off a portion of their debtors at a discount to a financial institution or company in return for a one off payment The factoring company plays a more direct role in collecting outstanding debts than with invoice discounting Medium term Finance Medium term finance covering periods up to seven years is usually used to pay for purchases of or access to plant and machinery or motor vehicles research and development or expansion into new markets but it may also be used as working capital Term Loan A term loan is usually associated with the purchase of a major asset such as a motor vehicle or plant and machinery or with a major business expansion although businesses can also use term loans for a range of other purposes Leasing Finance Lease For businesses that cannot afford to buy a business asset such as a motor vehicle or machinery leasing may be an attractive option This enables the business the lessee to lease or rent the asset from a financial institution the lessor in return for regular payments over a fixed period of time The lessor retains ownership of the leased asset Leasing Contract

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/credit-options (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    funding other supports particularly to small businesses Government Supports Overview A number of government bodies and agencies provide funding and other supports to businesses particularly small businesses A network of 31 Local Enterprise Offices around the country provide advice information and support for starting up or growing a business For more details visit the Local Enterprise Office website here The Government has developed an online tool to help businesses find

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/government-supports-overview (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    provide finance directly to small businesses but works through intermediaries European Investment Fund Venture Capital Facilities The EIF acts as a fund of funds supporting venture capital and private equity funds that invest in small businesses particularly high growth and innovative companies that are in their early stages of development Most of the EIF supported funds investing in Ireland concentrate on companies involved in information and communications technology ICT or life sciences The EIF equity portfolio in Irish small businesses was 98 million by the end of 2010 How do I apply The EIF does not provide funding directly so entrepreneurs looking for investors with EIF backing should contact one of the funds supported by the EIF These funds decide make investment decisions based on their own commercial criteria A full list of all venture capital and private equity funds that have been backed by the EIF is available on the EIF website here What is venture capital Venture capital is medium to long term finance provided by professional investment companies in return for an equity stake The companies typically invest in businesses which are not listed on a stock exchange with high growth potential at the early seed or start up or growth stage of development For more information on venture capital in Ireland visit the website of the Irish Venture Capital Association here Competitiveness and Innovation Framework Programme CIP EU Guarantees The EIF also provides credit insurance guarantees and credit enhancements to institutions providing small business loans These guarantees are known as EU Guarantees and are provided under the SME Guarantee Facility which is funded by the European Union under the Competitiveness and Innovation Framework Programme CIP 2007 2013 The overall objective of CIP is to improve access to finance for start up and growth of small businesses and promote investments in innovation including eco innovation The SME Guarantee Facility benefits small businesses because it reduces the lender s risk and incentivises them to lend to businesses that might not normally be approved for credit The EIF s credit insurance facility allows the Fund to take up to 50 of the credit risk on every individual loan The EIF s guarantee portfolio in Ireland totalled 3 million by the end of 2010 How do I apply To apply for a loan a business must be an eligible SME as defined for CIP by the European Commission The enterprise must have fewer than 250 employees turnover of less than 50m and or a balance sheet total of less than 43m the business is considered an SME as set out in the EC s regulations For information about the EU s SME definition click here The EIF maintains a list of CIP loan finance providers in Ireland and publishes it on its website here EU Funding for Innovation There are a number of EU programmes which provide funding to small businesses that support research and innovation The four main programmes are The Seventh Framework Programme FP7 FP7 provides funding for

    Original URL path: http://www.smallbusinessfinance.ie/start-your-own-business/category/eu-funding (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    about cookies and how we use them please read our privacy policy here Small Business Finance About Us Contact Us FAQs Tools Downloads Business Start Ups Day to Day Needs Invest Grow Innovate Grow International Business Managing Finances Home grow your business Overview Day to Day Needs Overview Credit Overview Credit Options Government Supports Own Funds Invest Grow Overview Equity Credit Options Government Supports EU Funding Innovate Grow Overview Equity

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    your business overview Grow Your Business All businesses need financing to maintain and grow The type of financing needed depends on how business plans to use it Overview Established businesses need financing to maintain the business supporting day to day activities as well as to support growth This section looks at the financing options available for day to day needs for expanding the business s capacity assets or workforce and

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business/category/overview (2016-02-16)
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  • Small Business Finance - Information and guidance on how to finance your business.
    they have enough money on hand to pay their suppliers and cover their overheads when the payments are due Day to Day Needs Businesses need to be sure that they have enough money on hand to pay their suppliers and cover their overheads when the payments are due However sales and expenses fluctuate and there may be seasonal peaks and troughs Businesses that sell on credit may also face delays

    Original URL path: http://www.smallbusinessfinance.ie/grow-your-business/category/day-to-day-needs (2016-02-16)
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