Trading Online Voucher scheme has been officially phased out. This initiative provided financial assistance to small businesses seeking to establish or enhance their online presence. In its place, the Local Enterprise Offices have introduced the Grow Digital Voucher, a new program aimed at supporting SMEs in adopting digital technologies to improve efficiency and competitiveness.
Table of Content
The TOV scheme was instrumental in helping small businesses with up to 10 employees develop e-commerce capabilities by offering grants of up to €2,500, covering 50% of eligible costs. This initiative enabled numerous enterprises to establish an online trading presence, thereby expanding their market reach.
The newly introduced Grow Digital Voucher expands the scope of support to SMEs with up to 50 employees, reflecting a broader commitment to digital transformation across various business sizes. This voucher offers financial assistance covering 50% of eligible costs, with grants ranging from a minimum of €500 to a maximum of €5,000. The funding is intended for the adoption of new digital tools and technologies that enhance business operations, customer engagement, and overall productivity.
While the TOV was available to businesses with up to 10 employees, the Grow Digital Voucher extends eligibility to those with up to 50 employees. Additionally, applicants for the Grow Digital Voucher must have completed a "Digital for Business Project" within the previous two years.
The Grow Digital Voucher focuses on a wider range of digital tools beyond e-commerce, including customer relationship management (CRM) systems, online booking platforms, job tracking software, and cloud-based accounting solutions. This reflects a comprehensive approach to digitalization, encouraging businesses to integrate various technologies that can streamline operations and enhance competitiveness.
Applicants for the Grow Digital Voucher are required to engage with their Local Enterprise Office to discuss their digitalization needs and ensure alignment with the program's objectives. This collaborative approach aims to tailor support to the specific requirements of each business, facilitating a more effective digital transformation journey.
The transition from the TOV to the Grow Digital Voucher signifies a strategic shift towards a more inclusive and comprehensive digital support framework for Irish SMEs. By broadening eligibility and expanding the range of supported digital tools, the Grow Digital Voucher aims to foster a culture of innovation and adaptability among businesses, enabling them to thrive in an increasingly digital economy.
By broadening eligibility and expanding the range of supported digital tools, the Grow Digital Voucher aims to foster a culture of innovation and adaptability among businesses, enabling them to thrive in an increasingly digital economy.
Businesses interested in applying for the Grow Digital Voucher should:
Assess Digital Needs: Conduct a thorough evaluation of current digital capabilities and identify areas for improvement or expansion.
Engage with Local Enterprise Office: Contact the relevant LEO to discuss eligibility, application procedures, and to complete the required "Digital for Business Project."
Prepare Application: Develop a detailed proposal outlining the intended digital projects, associated costs, and anticipated benefits to the business.
By proactively engaging with the Grow Digital Voucher program, Irish SMEs can position themselves to effectively navigate the digital landscape, enhance operational efficiency, and achieve sustainable growth in the evolving market environment.
For more information, visit the official Local Enterprise Office website and government Grow Digital website.
Categories
Articles