In a bid to support Irish retailers with their online presence, the Irish Government has announced a new funding scheme. The Online Retail Scheme, which is funded by the Department of Enterprise, Trade and Employment and administered by Enterprise Ireland, will offer grants of up to €25,000 to eligible retailers.
Since its launch in 2018, the Online Retail Scheme has supported over 700 Irish retailers with a total allocation of more than €28m. The scheme has also proved to be a significant success in promoting regional development, with over 70% of the successful applicants from the previous funding rounds being based outside Dublin.
The purpose of the scheme is to provide direct financial support to retail companies and strengthen their ecommerce capabilities. The scheme aims to help retailers develop a more competitive online presence that complements their in-store offering.
According to the Minister of State for Employment Affairs and Retail Business, Neale Richmond, “An online presence is no longer optional for many businesses, it is a key part of any business model and the benefits are huge.” He further added that “the Government is determined to support businesses on this journey.”
The Online Retail Scheme is open for applications from 4 April to 3 May. Eligible applicants must be an Irish-based enterprise that employs ten or more full-time employees. Smaller retailers can also consider the Trading Online Voucher Scheme (TOVS), which is operated by the Local Enterprise Offices.
This new funding scheme presents a significant opportunity for Irish retailers to bolster their digital capabilities and increase their competitiveness in a fast-changing retail landscape. Retailers are encouraged to apply for the scheme and take advantage of the funding available to strengthen their online presence.