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A feasibility study grant can be used to assess the viability
of a business proposal. This can include research and development,
prototype production, test marketing consultancy advice, financial
projections, the preparation of a formal business plan and generally
in finding out whether a service or a new product should be taken
to the production stage. It is important to remember that if a
project is grant aided for a feasibility study/business plan that
it will not be granted aid until a complete feasibility study/business
plan of an acceptable standard has been submitted to the Enterprise
Board.
The following studies are eligible:
-
Market research
- Preparation
of costings and financial projections
- Assessment
of suitable plant, equipment etc.
- Sourcing
raw materials
- Other
research or studies related to the development of an economic
project
- Prototype
development
- Development
of a business plan
What
costs are grant aided?
- Eligible
costs may include:
- Wages/salaries
- €7.6per
hour
- Expenses
such as travel - €19
cent per mile, subsistence - €32
per 24 hour period
- Postage,
telephone etc.
- Expenditure
on prototype development
- Consultancy
fees
What
information is required for grant applications?
- Information
on promoter:
- Name
of promoter
- Address
- Telephone
number
- Qualifications
- Work
history and background
Details of study or project:
- Work
to be done
- By
whom, time involved, estimated costs with details of travel
and other expenditure
- Objectives
of study or project
- Include,
if relevant, products to be developed , markets, customers,
competitors and estimated
Employment
- Timeframe
for completion
- Project
methodology
- All
other relevant information
- (Give
as much information as possible, to indicate clearly the nature,
extent and purpose of the study or project)
Expenditure expected to be incurred
- Wages/salaries
- Travel
- Consultancy
fees
- Subsistence
- Prototype
costs
Other
expenses
( The estimate of expenditure should be considered carefully as
subsequent over-expenditure will not be grant-aided.)
General conditions:
Grants may be provided up to a maximum of 50% subject to a limit
of €5079
for any single project towards the cost of feasibility studies
and preparation of business plans aimed at assessing the viability
of projects.
Applications
on the relevant form must be made and approved prior to the commencement
of the study. Studies in sectors of over-capacity or products
studied previously with negative results will not normally be
approved.
In
addition, feasibility study grant promoters must submit an auditors
certificate to certify certain expenses such as the wages/salaries
of the person(s) involved in carrying out the project, travel
expenses and other expenses.
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