• 183 retailers will receive funding via the scheme which aims to accelerate Irish retailers’ online offering and increase competitiveness
• Three quarters of successful applicants located outside Dublin
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, has today (Thursday) announced the successful applicants approved for funding through the Covid-19 Online Retail Scheme, which is administered by Enterprise Ireland. 183 retailers have been approved for €6.5m in funding as part of the scheme, which is targeted at online retailers to strengthen their online offering and enable them to reach a wider customer base.
Almost three quarters of the successful applicants are located outside Dublin with 130 retailers from these regions approved for funding.
The value of the scheme, which received 373 applications, was increased from €2m to €6.5m due to the high level of demand amongst retailers and the high quality of the proposals received. The Scheme helps Irish-owned retailers to strategically enhance their online sales capabilities, so they can be more competitive, sustain jobs and subsequently scale their businesses in international markets.
Under this Covid-19 competitive call, the successful applicants will receive funding ranging from €16,000 to €40,000 to strengthen their online offering. The average grant value is €35,500. Enterprise Ireland will be opening a 2nd Call under the Covid-19 Online Retail Scheme in the coming weeks.
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD said:
The Government has put a wide range of financial measures in place to help businesses respond to the Covid-19 pandemic. The Covid-19 Online Retail Scheme was introduced back in April to help indigenous Irish retailers to get better established online – which was essential to get through the crisis and is even more important now as they seek to expand their customer base for the future.
This €6.5m fund will enable 183 Irish retailers to boost their online capability and grow their business offering. Competition is no longer local. If our businesses want to be competitive today and in the longer term, we need to see more Irish retailers fully embrace the digital opportunity. That is why I am pleased to announce that Enterprise Ireland will open a 2nd Call under the Covid-19 Online Retail Scheme in the coming weeks.
The new Government’s job over the next few weeks and months is to help businesses get back on track in every way we can. As our workplaces and businesses reopen, we must help our country recover, repair the damage that has been done, and restore confidence and prosperity. The July Jobs Stimulus will be radical and far-reaching and will set our economy on the right course for the next five years and beyond.
Commenting, Julie Sinnamon, CEO, Enterprise Ireland said:
The Covid-19 Online Retail Scheme attracted the highest number of applications we have received through this scheme to date. This reflects the desire of indigenous Irish businesses to maximise and expand their reach beyond the physical shop and local high street and to grow their potential target market.
Many of our smaller retailers are selling quality, in-demand products and services that appeal to international customers and they are now taking the opportunity to further invest in their digital presence and to compete on a global basis.
This will help strengthen their foundations to withstand future challenges, including those that are likely to arise as a result of Brexit.
I would encourage any eligible retail enterprises that have not applied or have not been successful in this call, to apply for funding in the next call for applications, details of which will be published shortly.
The 183 retailers awarded funding, operate across a broad spectrum of sectors including healthcare, jewellery, fashion, sports, homeware and furniture, electrical goods and equipment.
For further information please contact:
Brigid Burke, Press and Media Relations, Enterprise Ireland, 087 1803995 brigid.burke@enterprise-ireland.com
About Enterprise Ireland:
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland. www.enterprise-ireland.com
About the Covid-19 Online Retail Scheme:
Supporting the Irish retail sector to embed a more sophisticated online trading (e-tailing) strategy in its business model can contribute to the continued viability of a cohort of retail companies affected by the Covid-19 pandemic and help position them for recovery. Applicant companies must be an Irish-owned retail enterprise that had 10 or more employees on or before 29 February 2020 and has the potential to sustain or create jobs, generate growth in online transactions and with an ambition to internationalise their business in future.
The business must also:
• have an existing online presence (e.g. website or social media)
• have a retail outlet and derive the majority of revenue from the retail outlet(s)
• Must employ at least 10 employees in the Republic of Ireland (on a full-time equivalent basis on or before 29 February 2020)
The Scheme originated in the work of the Retail Consultation Forum which is chaired by the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD.
Building on two previous successful calls of the pilot Online Retail Scheme, introduced by the Department arising from the work of the Retail Consultation Forum, applications were open to indigenous retailers with a physical store and employing 10 or more people to develop a more competitive online offer in response to the Covid-19 crisis and to strengthen business resilience.