Ten small businesses are set to benefit from a share of a €100,000 bursary being made available under Three Ireland’s Grants for Small Businesses programme. Applications for a share in the bursary worth €10,000 are now open to all businesses based in the Republic of Ireland that have a workforce of between one and nine employees and have been trading for a minimum of six months.
The Grants for Small Business programme follows on from research carried out by Three into small business sentiment in the wake of the Covid-19 pandemic. Carried out by Behaviour & Attitudes, the survey of 129 firms found that, despite the significant impact of the virus on business in Ireland, two in three small companies have a positive outlook for 2022. The research also reveals that 83 per cent of respondents said the virus had an impact on their business, with 68 per cent saying it has changed the way their business operates.
The research also showed that almost half of companies expect hybrid working to be the new norm, with one in three expecting their business to remain remote during 2022. The main priority for 2022 for the majority of companies surveyed is to grow or maintain current levels of business activity.
Respondents also identified marketing and advertising (33 per cent), technology and connectivity (20 per cent), and machinery and equipment (19 per cent) as the main areas for investment in their companies.
"It is very encouraging to see that so many small businesses have a positive outlook for 2022, but the impact of Covid-19 on them cannot be overlooked," says Padraig Sheerin, head of SME with Three Ireland. "We are working with thousands of small business customers, and we are very aware of everything that has been happening to them over the past while.
Support
“We looked at where they most needed support and that was for funding, grants and advice. That’s where the idea for the Three Grants for Small Business programme came from.”
Under the programme, 10 small businesses will be awarded a support package worth €10,000 made up of cash, plus advice, support and connectivity solutions from Three Ireland's expert business advisers. The programme will be managed by the small business network and support provider, Enterprise Nation, which has recently launched in Ireland.
Applications opened last week and an initial shortlist of 20 companies will get the opportunity to make a virtual pitch in front of the judging panel made up of Mr Sheerin, Enterprise Nation CEO Emma Jones, Michael O'Dea of Enterprise Ireland's high potential start-up unit, and Siobhán Finn, national hub network manager with the National Association of Community Enterprise Centres, which represents a network of more than 250 Enterprise Ireland-funded centres and hubs across the Republic of Ireland.
Grants will be allocated to businesses in all four provinces and winners will be announced at the beginning of November 2021.
“Three Business is delighted to be partnering with Enterprise Nation to assist small businesses in their recovery post-pandemic,” Mr Sheerin adds. “In addition to the grant money, the winners will also receive advice and business solutions from Three to meet their company’s needs, and we look forward to working with these businesses in the next stage of their journey.”
Solutions
The programme is designed to ascertain those needs. “We’d like as part of application process to find out how the grants and other supports will help the businesses concerned and how they will impact on the communities where they are located,” Mr Sheerin explains. “It could be that they will grow and employ more people. It might also enable them to do more business with other businesses in community. It could be a refurbishment project to refresh the look and feel of the business premises.”
The Three solutions on offer will be tailored to the requirements of the individual businesses. “They can look for solutions from across the range. It could be a connectivity solution like 3Connect to support remote working or a security solution to protect mobiles. And it could be the 3Communicate messaging service to allow companies to send text and WhatsApp messages to customers in real time. Three Business will do full in-depth reviews with the companies to look at what they are doing now, what they want to do, and what they can do in the future.”
And the money will come in handy as well. “Business sentiment has been slower to bounce back than consumer sentiment,” says Mr Sheerin. “Cash flow and liquidity are more important than ever for small businesses, and we are delighted to be able to help out with a cash grant.”
Find out more about Three’s Grants for Small Business and apply today