EI’s lifeline for domestically focused firms during crisis

Enterprise Ireland will administer a Business Financial Planning Grant to specifically support domestic focused companies as well as a Sustaining Enterprise Fund for small enterprises – as part of the Covid-19 Business Response recently announced by the Government.

It comes as EI revealed that 60 percent of Irish companies they have engaged with since March say that Covid-19 has had a very negative or critical impact on their business to date.

Financial planning was listed as one of the key priorities identified by client companies in responding to the crisis. 34 percent of the client companies in contact have engaged with a financial institution, and just one in three have put a financial plan in place.

Worth up to €5,000, the Business Financial Planning Grant will assist companies to develop a Business Sustainment Plan and to engage the services of an approved Financial Consultant when applying for funding.

By having a financial plan in place, a business will be better positioned to understand its immediate financial position, manage costs and identify the finance it requires.

Enterprise Ireland Regional Director, Michael Brougham acknowledge that this was a very serious and challenging time for businesses.

For more, read this week’s Connacht Tribune.

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